Ethereum: Hurst Cycles - 26th July 2022
Price completes 40 day nominal low on the 13th of July, in commonality with Bitcoin but with notably higher amplitude. Where was the 20 week nominal low in Ethereum? We look at the evidence below
Ethereum continued a sideways grind to mid July, as outlined in the last report, prior to moving relatively sharply upwards out of a low of at least 40 day magnitude on the 13th July:
From 1st July Report
At the medium and short term we are awaiting the conclusion of the 40 day component here. It is highly likely the low on the 18th is of 40 day magnitude. Given the average wavelength (28-32 days), we can expect the next low around mid July.
The move up subsequently broke the 80 day VTL (blue on medium term chart below), confirming a low of at least 20 week magnitude has occurred, either around June 18th or around July 13th, as we currently have phased.
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