While Ethereum (ETH) has posted impressive gains of 37.7% over the past month, the second-largest cryptocurrency by market capitalization still remains over 33% below its June 2024 levels. However, recent technical and on-chain indicators suggest that ETH may be on the verge of a significant breakout.

Ethereum Prints Bullish Morning Star Candlestick Pattern

In a post on X earlier today, crypto trader Merlijn The Trader highlighted a potentially bullish development on the Ethereum monthly chart. According to Merlijn, ETH has printed a Morning Star candlestick pattern – often regarded as a strong bullish reversal signal.

For the uninitiated, the Morning Star is a bullish reversal pattern that appears after a downtrend, signaling a potential shift to upward momentum. It consists of a large

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