Fantom Price Prediction: More Dip-Buying to Come

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Written By: Eno Ikenna Eteng

Sep 09, 2021, 15:57 BST 15:57

Summary:

The Fantom price prediction is for more dip-buying to follow, with prices starting to retreat to levels deemed cheaper by traders.

Fantom price action continues to surge higher after its on-chain Rarity game continued to amass a popular following. The game’s launch has boosted bullish Fantom price predictions as the token hits all-time highs.

Rarity came on-stream on 5 September, sending the Fantom price higher for the 7th week in a row. This week, Fantom price has gained more than 46%, even though buyers are now taking profits.

What is the Fantom price prediction going forward following last month’s gain of nearly 500%?

Fantom Price Prediction

The active daily candle bounced off the 1.1156 support level (100% Fibonacci extension) and pushed above the 1.5004 and 1.6901 resistance barriers. These barriers now serve as potential support levels in role reversal. Any upward continuation of price action follows a bounce off these price levels.

On the other hand, a decline below 1.6901 targets 1.5004 (141.4% Fibonacci extension), with 1.3684 lining up as another target to the south if the Fantom price declines further.

Fantom Price (Weekly)

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Written By: Eno Ikenna Eteng

Eno's work as a technical analyst and author since 2009 is well recognized in the industry and on several freelance platforms. He is also a member of the prestigious UK Society of Technical Analysts and a top-ranked participant in the Basic Investment Banking and Asset Management simulations with Amplify Trading.