Exciting Potential for Fantom (FTM) Price Breakout Ahead 🚀
If you’re keeping an eye on Fantom (FTM), you may be in for an exciting ride as analyst Javon Marks recently shared his bullish outlook on the altcoin’s price. Marks highlighted a Hidden Bullish Divergence formation in the FTM chart, indicating a potential significant upside of 234% for the token. As of now, FTM is trading at $0.3278, showing a 6.7% decrease in the last 24 hours but a 12.7% increase over the past week, according to data from Coingecko.
Potential Uptrend on the Horizon
Fantom seems to be at the early stages of a potential uptrend as it begins a retracement, reflecting heightened market awareness. Despite some price swings leading to a lower low, Marks suggested that FTM could be gearing up for a strong upward momentum that could not only recover previous losses but exceed them.
$FTM (Fantom) after recently confirming a Hidden Bullish Divergence, has retraced but has done this once before before entering a massive continuation and can be doing so again!
With this confirmation we could watch for an over 234% recovery move before a continuation towards… https://t.co/Aw7KebzRMN pic.twitter.com/ANe8biPB75
— JAVON
Understanding Bullish Divergence
A bullish divergence is a critical concept in technical analysis where the price of an asset makes a lower low while the oscillator indicates higher values. This divergence serves as a warning sign of a potential price reversal and hints at weakening bearish sentiment while signaling strengthening bullish momentum.
Price Forecast for Fantom
The current price signals suggest a potential uptrend in the coming week for Fantom, driven by increasing buy signals across key technical indicators. Analysis from CoinCheckup indicates bullish crossovers and an upward trend in the relative strength index, pointing towards imminent overbought conditions and a strong upward price movement.
Over the next three months, Fantom is projected to witness a 38.87% growth in value, fueled by positive market sentiment and growing trading volumes as per CoinCheckup data.
Bolstered by historical price trends and Fibonacci retracement levels, FTM is poised to overcome prominent resistance levels in the near future. Looking ahead, the one-year prediction indicates a staggering growth of 207%, positioning Fantom as a compelling long-term investment option with significant returns.
Hot Take: Get Ready for Fantom’s Potential Price Surge 🌟
Get prepared for a potential surge in Fantom’s price as it shows promising signs of an uptrend with a bullish divergence formation. With the analysis pointing towards significant growth in the near future, Fantom could be a lucrative investment opportunity for those eyeing long-term gains.
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