Fantom (FTM) Might Be Preparing for a Massive Price Increase, Analyst Javon Marks Says

Fantom has just started a retracement and this price behavior is quite familiar with the asset.

A recent analysis by popular analyst Javon Marks suggests that Fantom (FTM) might be preparing for a significant price increase.

Marks observed the appearance of the Hidden Bullish Divergence in the chart of Fantom in a post on X. According to the analyst, this divergence could lead to a substantial rebound for the token, possibly even a 234% upside.

The analysis highlights Fantom’s تازه شروع شده retracement, which is a familiar price behavior for the asset. Earlier, Marks noted that the price reacted back above the token by going down and marking a lower low, which preceded a massive continuation rally.

Considering this previous behavior, Marks speculated that FTM could potentially be in an early-stage bullish run that might reclaim all prior losses and more.

Bullish Divergence Signal for Fantom

In technical analysis, a bullish divergence occurs when the price records a new low while an oscillator, such as the RSI or MACD, does a similar record, but at a higher level compared to the previous lower price. Such a divergence indicates a possible reversal of the asset’s price and serves as a warning that the bears may be weakening, while the bulls may be gaining strength.

In this case, the observed pattern could be the beginning of an even more rapid increase in the price of Fantom.

According to Marks, if this technical signal unfolds in the manner described above, Fantom could rebound with a move surpassing 234%. This would not only be a major bounce for the token but could provide the opening to nudge the token to an important level of $3.0053.

This level has been cited by Marks as being a level of resistance and if traders can penetrate this level, then the coin may continue to rise.

The existence of such a recovery has been noted by traders and investors, and most of them are now closely following the price fluctuations in Fantom. Since the market of cryptocurrencies is inherently unpredictable, a technical indicator such as the Hidden Bullish Divergence could go a long way in influencing the market trends.

Given that the price of Fantom is now fluctuating just above these two levels, the upcoming days will be decisive as to whether the token will be able to take advantage of this arrangement. If Marks’ assessment is correct, then Fantom may be on the cusp of a significant surge and could return to the ranks of the most popular cryptocurrencies.