Fantom (FTM) Poised For Massive Bull Run, Analyst’s 234% Rally Prediction Raises Eyebrows

Christian Encila

Last Updated: August 12, 2024 7:38 am

3 mins read

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Fantom (FTM) might be up for a huge price breakout shortly after an analyst – Javon Marks – made public his prognosis of the altcoin.

Posting in X, Marks attributed this to the formation of a Hidden Bullish Divergence in the FTM chart. According to the analyst, this has the potential to cause a significant rebound in the token, including a 234% upside.

At the time of writing, FTM was trading at $0.3278, down 6.7% in the last 24 hours, but sustained a 12.7% rally in the last week, data from Coingecko show.

Early Stages Of An Uptrend

Fantom has only begun retracement, as price action has become quite cognizant with the asset. The price has experienced some swings, going down to mark a lower low, something that Marks pointed out earlier before giving a massive continuation rally. With this background, Marks assumed that FTM is probably in the early stages of an uptrend that should undo all prior losses and potentially more.

$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⚡️MARKS (@JavonTM1) August 11, 2024

Fantom Bullish Divergence

A bullish divergence in technical analysis, is where the price makes a lower low while the oscillator shows higher values. In such a scenario, there is a warning that the price of the asset is prone to reverse and always carries a hint of the weakness in the bears while cautioning that the bulls are getting stronger.

FTM is currently trading at $0.32. Chart: TradingView

According to the technical signal of Marks, if the price plays through in the way outlined above, Fantom may explode to 234% and further. This in itself will not only be a huge bounce for the token but might be the perfect opening to shunt the token to a crucial level of $3.

Whether such recovery is in place or not remains to be seen, something that traders and investors are discussing and most are now watching closely these price fluctuations of Fantom. Since the market of cryptocurrencies is so unpredictable, any sudden move like the Hidden Bullish Divergence could help in creating major market trends with the help of this technical indicator.

Fantom Price Forecast

The altcoin has been signaling a potential uptrend that could be achieved in the next seven days. The momentum, mostly driven by buy signals which keep mounting in the key technical indicators, is already happening.

According to the price prediction data from CoinCheckup, bullish crossovers have taken place with the relative strength index pointing upwards in a direction towards overbought territory. This is a prelude to what is seen as a very strong upward push in the nearest term with respect to the price.

In three months, Fantom is forecasted to have 38.87% growth in value on the back of positive market sentiment and growing trading volumes, CoinCheckup figures show.

Supported by such historical price patterns and Fibonacci retracement levels, FTM is about to break past several key resistance levels. Further ahead, its in-one-year prediction shows a massive growth of 207%, placing the altcoin as one of the very attractive investments for people who will be looking at long-term returns.

Featured image from Entrepreneur, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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