As a seasoned crypto investor with a knack for spotting promising altcoins, I find Javon Marks’ latest analysis of Fantom (FTM) particularly intriguing. His prediction of a potential 234% price breakout based on the Hidden Bullish Divergence pattern is compelling, especially considering FTM’s recent 12.7% rally in the last week.
It’s possible that the price of Fantom (FTM) could see a significant increase soon, following the prediction by analyst Javon Marks about its potential performance in the market.
In the context of trading on platform X, an analyst noted the emergence of a concealed bullish divergence within the FTM price chart. This technical pattern could lead to a substantial increase in the value of the token, potentially boosting it by as much as 234%.
Currently, FTM is being traded at $0.3278, representing a 6.7% decrease over the past 24 hours. However, it has experienced a significant 12.7% surge during the last seven days, according to information from CoinGecko.
Early Stages Of An Uptrend
It appears that Fantom has just started its correction phase, as the price behavior seems to be increasingly aware of the asset’s value. The price has shown some fluctuations, reaching a new lower point which Marks had previously mentioned before predicting a substantial follow-up surge. Given this context, Marks believes that Fantom might be entering an uptrend, one that could erase all previous losses and potentially bring even more gains.
Following the confirmation of a concealed bullish divergence, Fantom (FTM) experienced a pullback. However, it’s important to note that in the past, FTM has shown a similar pattern prior to embarking on a significant uptrend. Therefore, it’s possible that we could be witnessing a repeat of this scenario!
After receiving this confirmation, we might anticipate a significant surge (over 234%) before the trend possibly shifts towards…
— JAVONMARKS (@JavonTM1) August 11, 2024
Fantom Bullish Divergence
In technical analysis, a bullish divergence occurs when the asset’s price forms a lower low, but the oscillator indicates higher values. This suggests that there might be an impending reversal in the price trend, and it hints at the bears’ weakness while signaling the bulls are gaining strength. For Fantom, this pattern could potentially lead to a more rapid increase in its price, although with increased volatility or risk.
Based on Marks’ technical analysis, if the price trend continues as suggested, Fantom could potentially increase by approximately 234%. Such an increase would not only be a significant boost for the token but could also provide a prime opportunity to propel it towards a key level of around $3. This level has been identified by the analyst as a potential resistance point. If traders manage to break through this barrier, the coin might continue to gain momentum.
It’s yet unknown if such recovery has been established, a topic currently under debate among traders and investors who are closely monitoring Fantom’s price volatility. Given the volatile nature of cryptocurrency markets, unexpected events like Hidden Bullish Divergence could potentially shape significant market trends when considered with this technical indicator.
Fantom Price Forecast
In simple terms, the digital currency alternative (altcoin) appears to indicate an upcoming price increase within the next week. This upward trend seems to be gaining speed, primarily due to a series of buy signals that are consistently strengthening across essential technical tools. The movement itself has already begun.
Based on data from CoinCheckup, we’ve observed bullish crossovers and an increasing Relative Strength Index that approaches overbought levels. This trend suggests a potential strong surge in price in the short term.
Over the next three months, it’s projected that the value of Fantom could increase by approximately 38.87%, thanks to favorable market conditions and rising trading activities. According to data from CoinCheckup.
Based on historical price trends and Fibonacci retracement indicators, FTM is poised to surpass multiple significant resistance points. Looking further into the future, a projected increase of approximately 207% within a year positions this altcoin as an extremely appealing investment opportunity for those seeking substantial long-term returns.
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2024-08-12 10:35