Blocksmith Says: Possible ETH Break Out

26 October 2022

Right now it is feasible that Ethereum is breaking out after an 18-month cycle trough. This is a big cycle and if the analysis is correct then we are looking up to between US$3,000 and US$4,500 (by the end the year and by next March respectively).

The weekly chart shows the 18 month cycle as semicircles and as you can see price as well as momentum are poised for a breakout. Not much more to say here, it’s potentially a huge call and we should be monitoring that break level closely. 

If there is a breakout and it looks like a new 18-month cycle is rallying, then I will conduct a full cycles analysis and publish it.

Christopher Grafton
Christopher Grafton

Chris has been working in the markets for over 15 years variously as a broker, analyst and researcher. He is the author of a well-known book on Hurst cycles analysis, and runs his own market analysis software platform on Bloomberg. He’s also a keen student of both the cello and Brazilian Jiujitsu.

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