According to Severino, the biggest challenge most market participants face today is the inability to accept that a cycle may behave differently from historical trends. He added that, currently, many investors believe the Ethereum cycle has not happened, even though it behaved unexpectedly.
Explaining this deviation through a cycle theory, Severino noted that within a full market cycle, there are several smaller degree cycles that make each timeline unique. He referred to these smaller cycles as “intracycle harmonics.” The analyst emphasized that the behavior of these harmonics can change depending on their position within the larger degree cycle. He further added that if an intracycle harmonic exceeds the amplitude of the larger-degree cycle, it could be a warning sign that ETH is in a period dominated by bear-market rallies.
Ethereum Bottom Not Reached YetAccording to the analyst, every time Ethereum has broken this key support line, the cryptocurrency has declined to its market bottom. With ETH’s price now hovering slightly above key support, it suggests that the market could be approaching a floor soon.
