APENFT crypto price fell sharply after a breakdown of a tighter consolidation of nearly four weeks. Thereafter, the price continued to weaken till the end of the week and closed with a negative gain of almost 10%.
The breakdown dragged the price below the short-term exponential moving averages of 20-day and 50-day, signifying weakness over the chart.
APENFT is a blockchain-based fund that focuses on the NFT art market. It invests in top NFT platforms and artworks. Moreover, it also supports NFT artists and art institutions and collects valuable art pieces.
As per the APENFT, NFTs are a key innovation that might transform the blockchain industry and create new possibilities for online services. It aims to expand the use cases of blockchain and promote the integration of traditional and digital art.
At the time of writing, the NFT price runs close to $0.00000041 with an intraday rise of nearly 3%. The bulls are trying to recover from last week’s price fall and have started adding buying volume at the lows.
Moreover, the 4-hour chart shows that the price has slipped lower and currently hovers below the key exponential moving averages of the 50-day and 200-day.
The long-term indicators point to a bullish bias, which may attract more buying volume at the lows.
At the time of writing, the RSI slipped below the mean line and was at 45.92. The SMA line was maintained above the mean line at 54.47. The RSI line has fallen below the mean line and shows a bearish crossover of the SMA line indicating a bearish outlook.
APENFT Price Prediction 2024
The price prediction of NFT crypto for 2024 shows that the long-term outlook is positive, which may help the price to gain higher. The analysts expect the price may reach a high of $0.00000073 by the end of the year. Moreover, the bearish view of analysts expects the price to reach $0.000000576 by 2024.
APENFT Price Prediction 2025
The most optimistic analyst forecast for the APENFT cryptocurrency expects the price to reach a high of $0.00000101 with a potential gain of 144.5% from the CMP. The minimum forecasted price by the end of 2025 is $0.000000808.
APENFT Price Prediction 2026
Over the next two years, the APENFT crypto may attain a maximum price of $0.00000124. Whereas, the lowest price that the crypto may attain is $0.00000106.
APENFT Price Prediction 2027
As per the analysts, the most optimistic price target that the NFT crypto may achieve by 2027 is $0.00000194. On the other hand, the lowest price target of the analysts is $0.00000145.
APENFT Price Prediction 2028
The most optimistic price target that the NFT token may achieve by the end of the financial year 2028 illustrates that the price may attain a high of $0.0000023. On the other hand, the pessimistic view of analysts expects the price to reach $0.000000186 by 2028.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2024/01/08/apenft-price-breaks-consolidation-are-bears-dominating-the-trend/