Ethereum: Hurst Cycles - 11th November 2022
After a tumultuous few days in crypto, which likely marks the end of the 18 month component, we look at Ethereum and the outlook over the next few months
Tools required: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend
Analysis Summary
Back in July this year we anticipated a peak of the 20 week component in Ethereum and some further falls into what is likely to be the 18 month nominal low, occurring soon. We ruled out the possibility of the 18 month nominal low forming in June and regarded underlying trend as down until late October/early-mid November.
From 26th July Report:
When we shift resolution to a weekly chart (long term, below) the placement of the 20 week component becomes less relevant and the 40 week component, which undoubtedly formed it’s last low around March, is prevalent. If we take the price low on 24th January as the most extreme modulation of the 40 week component we see that only 26 weeks have elapsed since that low. This pretty much rules out the possibility of the 18 month component low forming in June or July.
Price is now around 17 months along …