Morning Start Formation on ETH

The Morning Star pattern on ETH suggests a potential reversal of the recent downtrend and hints at a possible upward price movement. This pattern typically forms after a period of falling prices and signals increasing buying pressure.

Key Points

Bullish Reversal: The Morning Star is a three-candle pattern that often indicates a shift from a bearish trend to a bullish trend.
Increased Buying Pressure: It signals that sellers are losing momentum and buyers are stepping in.
Potential Uptrend: If the pattern is confirmed by other indicators or a break above key resistance levels, it could mark the beginning of an uptrend for ETH.

Disclaimer: Remember that technical analysis is just one tool in a trader's arsenal and should be used in conjunction with other forms of analysis. It's important to conduct thorough research and consider various factors before making any trading decisions.


P.s. Trading on 24 of December Above 3475 gives confirmation to grow to 4k before the end of December 31.

p.s.s. This is random text from internet not a financial advice.