Is APENFT buy opportunity after the current dip?

APENFT (NFT) has weakened from $0.0000059 to $0.0000025 since November 15, and the current price stands at $0.0000031.

The cryptocurrency market is losing its value this Thursday; Bitcoin went below $43000, and the price of APENFT remains under pressure.

APENFT transforms art pieces

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APENFT is a project with the underlying technology of top-notch blockchains with the mission and purpose to register world-class artworks as non-fungible tokens on the blockchain.

APENFT transforms art pieces into something that belongs to everyone, and it has entered into partnerships with the world’s largest auction houses like Christie’s, Sotheby’s, and Nifty Gateway.

APENFT was officially registered in Singapore on March 29, 2021, and it is important to say that most of the APENFT team members are experts from the traditional art industry that worked for well-respected institutions such as Christie’s and Sotheby’s.

NFT token is used as a governance token for this project, and it plays an important role in the APENFT ecosystem. The team of APENFTadded:

Registering artworks as NFTs ushers in a new era where traditional artworks are aligned with crypto technology. It is just the beginning of a splendid chapter with the founding of APENFT as the prelude.

NFT serves as proof of stake of the foundation, while users can earn this cryptocurrency by participating in comments, creating, recommending, and displaying works in APENFT.

NFT is developed in compliance with the ERC-20/TRC-20 protocol, and it has a total supply of 999,990,000,000,000 with an initial issuing price of $0.00000012.

NFT token has achieved an impressive gain in the first days of September 2021, and it has reached a record high above $0.0000075 on September 05.

NFT is currently down more than 50% from its peak; still, APENFT is a very promising project, and the price of NFT could advance again at levels that we saw in September 2021.

Bears in control of APENFT

APENFT (NFT) has weakened from its recent high above $0.0000059, registered on November 15, and according to technical analysis, it remains in a bear market

The current support level for APENFT stands at $0.0000025, and if the price falls below it, the next price target could be around $0.0000020 or even below.

On the other side, if the price jumps above $0.0000040, it would be a strong “buy” signal, and we have the open way to a resistance level that stands at $0.0000050.

Summary

APENFT was designed with the mission to register world-class artworks as NFTs on the blockchain, and this project has entered into partnerships with the world’s largest auction houses like Christie’s, Sotheby’s, and Nifty Gateway. According to technical analysis, APENFT (NFT) remains in a bear market, but if the price jumps above $0.0000040, it would be a strong “buy” signal, and we have the open way to a resistance level that stands at $0.0000050.

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