APENFT Price Prediction 2021 – Will NFT Hit $0.000005 Soon?

APENFT Price Prediction 2021 - Will NFT Hit $0.000005 Soon?
  • Bullish APENFT NFT price prediction ranges from $0.00000425 to $0.00000464.
  • NFT price might also reach $0.000005 soon.
  • NFT bearish market price prediction for 2021 is $0.00000386.

In APENFT NFT price prediction 2021, we use statistics, price analysis, RSI, and many other information about NFT to analyze the future trend of cryptocurrency.

The APENFT Fund was established to register world-class works of art as an on-chain NFTs. It is based on TRON, one of the world’s three major public networks, and runs on the world’s largest distributed data storage system BitTorrent.

Just as blockchain has democratized finance in an unprecedented way, by transforming the best artists and works of art into NFT, APENFT is not only innovating the way of custody of art but also transforming it from an exclusive item of the elite to a truly belonging to people and mirrors their aspirations. APENFT is everyone’s art.

According to CoinGecko, the NFT price is trading at $0.00000262 with a 24-hour trading volume of $154,810,354, at the time of writing. However, NFT has decreased by 12.1% in the last 24 hours.

Moreover, NFT has a circulating supply of 19,999,800,000,000 NFT. Currently, NFT trades in cryptocurrency exchanges such as  Huobi Global, BitZ, BHEX (BlueHelix Exchange), Gate.io, and KuCoin.

APENFT NFT Price Prediction 2021

APENFT (NFT) holds the 366th position on CoinGecko right now. APENFT NFT price prediction 2021 explained below with a daily time frame.

NFT/USDT Price Chart Daily Time Frame
NFT/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Ascending Scallop patterns. This pattern is observed during a bullish rally and it is shaped like a J, slightly tilted to the right. At the beginning of the pattern, the price fell. After the reversal, the price continues to rise, and the whole pattern looks like a tilted J.

There may be a breakout in any direction, that is, the possibility of trend reversal and trend continual. Breaking a higher high is considered an upward breakout whereas a breakout below the pattern’s low is treated as a downward breakout. A breakout is necessary to confirm the pattern.

Currently, NFT is waving at its wider bottom with the entry point at $0.00000354. After this small price drop, NFT would continue to rise which will appear as tilted J. With this pattern, NFT will soon reach $0.00000477. If the trend reverses, then the price of NFT may fall to $0.00000285.

NFT Support and Resistance Level

The below chart shows the support and resistance level of NFT.

NFT/USDT Support and Resistance Level
NFT/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of NFT.

  • Resistance Level 1 – $0.00000425
  • Resistance Level 2 – $0.00000464
  • Support Level 1 – $0.00000386
  • Support Level 2 – $0.00000360
  • Support Level 3 – $0.00000326

The charts show that NFT has performed a bullish trend over the past month. If this trend continues, NFT might run along with the bulls overtaking its resistance level at $0.00000464.

Conversely, if the investors turn against the crypto, the price of NFT might plummet to almost $0.00000326, a bearish signal.

APENFT (NFT) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of NFT. Generally, the Average Directional Index (ADX) is used to measure the overall strength of the trend. The ADX is associated with the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. The strong trend and weak trend, indicated by high value and low value.

NFT/USDT ADX(Source: TradingView)

The above chart shows the ADX of NFT stays above the range of 23, so it indicates a sideways trend.

Conclusion

NFT is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term NFT price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.00000468 this year. However, this only happens when NFT breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the NFT ecosystem, it could experience a great future ahead in 2021. It may reach $0.00000464 soon and it might even reach high heights, however reaching $0.000005, if investors have planned that NFT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.