Please completely rewrite this article, keeping the general semantics unchanged. Ensure accuracy and fluency, and eliminate any grammatical errors. Retain proper nouns and all elements.
Today, Fantom experienced a remarkable surge of 6%, resulting the formation of a bullish engulfing that resembled a morning star pattern. This pattern widely recognized as indicative of the conclusion of a pullback phase. What sets this particular occurrence is its formation near the crucial psychological threshold of $0.50, precisely around the78.60% Fibonacci level, and along an established support trend line.
Such formations are generally regarded as robust indicators suggesting a transition from a bearish to a bullish trend. For latest financial and business news, visit COINTURK FINANCE.
