Fantom (FTM) might be preparing for a massive price increase, as pointed out in an analysis made by popular analyst Javon Marks. In a post on X, Marks pointed to the appearance of the Hidden Bullish Divergence in the chart of Fantom. The analyst stated that this could likely result in a large rebound for the token and potentially even a 234% upside.
Fantom has just started a retracement and this price behavior is quite familiar with the asset. Price reacted back above the token by going down and marking a lower low, something that Marks pointed out earlier before giving a massive continuation rally. In light of this previous behavior, Marks assumed that FTM could potentially be in an early-stage bullish run that could reclaim all prior losses and potentially much more.
Fantom’s Bullish Reversal Signal
The bullish divergence is part of technical analysis where the price records a new low while an oscillator does a similar record. Such a divergence indicates a possible reversal of the asset’s price and carries the warning that the bears may be weakening, while the bulls may be gaining strength. In this regard, 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 discussed by traders and investors, and most of them are now closely following the price fluctuations in Fantom. Since the market of cryptocurrencies is unpredictable, a technical indicator such as the Hidden Bullish Divergence could greatly influence 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.
