⚡️ Market Context
MORPHO continues to trade within a broad ascending channel. Since reacting from the structural low at point (D), price has moved into a consolidation phase, building out a multi-wave recovery sequence toward the channel's upper boundary.
📈 Chart Explanation
The current price action reflects the early stages of an (abc) bullish continuation pattern. Before this pattern fully develops, a retracement toward the highlighted support zone is the expected next step, a necessary pause rather than a reversal signal.
📈 Outlook
The highlighted gray zone stands as the critical support level for this view. As long as price holds above it and the accompanying supportive trendline, the (abc) bullish continuation remains intact, keeping zone (E) as the macro target. A break below this support would invalidate the pattern entirely.
