Video Tutorial
Download SourceStep 1:
Let’s start out by creating a new file. I used a 500×400 pixels canvas set at 72dpi, and I filled my background with black. Now make a new layer then draw a circle with a #6FB5E3 background color of 118 X 118px dimensions.

Step 2:
Under Layer Style(Layer > Layer Style) add an Inner Glow and Gradient Overlay blending options to the circle layer as shown below.



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