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ETH/USD: The Gann wave structure warns of a correction – Will the Order Block hold?
Looking at the H4 chart of ETH, the Gann wave structure is showing extremely clear signals. After establishing the Value Top (GT) areas at around $3,400, ETH has experienced a strong decline.
Observation Area: Currently, the price is reacting at the Order Block cluster around the $2,900 - $2,950 mark. This is a critical contested area.
Signal: The appearance of Testing Bottom (TN) points indicates that buying pressure is beginning to emerge, but selling pressure at the "Congestion Area" just above is still very high.
Observation Area: Currently, the price is reacting at the Order Block cluster around the $2,900 - $2,950 mark. This is a critical contested area.
Signal: The appearance of Testing Bottom (TN) points indicates that buying pressure is beginning to emerge, but selling pressure at the "Congestion Area" just above is still very high.
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