**ETHUSDT ($2913)** Weekly Update Feb 19 2024 W#8
Price has entered the 2850-2950 zone
The 3MACD is back to bullish continuation
M macd continues to stay strong
A close above** $3284 ** on the M in the next few months could see price challenging the **$4500-5000** retest
The overhead potential resistance above ATH could start at** $11500-12500**, This would put ETH at **$1.3-1.5T. **
Anything above $12500 could be considered high **RISK** for holding ETH,
and price might not have a sustainable and healthy trend above this level as marketcap would be extremely high and overvalued.
The W21ema and 3D 21ema will continue to be the dominant mvg averages support for the next **12-16M**, possibly till Q2 2025
Make note that A strong sign that the Bull trend of the 4year Cycle is is 95% over is when Price hits the M21ema after an extrem extreme overvaluation.
Usually price will follow through 40-60% below the M21ema.
Price has entered the 2850-2950 zone
The 3MACD is back to bullish continuation
M macd continues to stay strong
A close above** $3284 ** on the M in the next few months could see price challenging the **$4500-5000** retest
The overhead potential resistance above ATH could start at** $11500-12500**, This would put ETH at **$1.3-1.5T. **
Anything above $12500 could be considered high **RISK** for holding ETH,
and price might not have a sustainable and healthy trend above this level as marketcap would be extremely high and overvalued.
The W21ema and 3D 21ema will continue to be the dominant mvg averages support for the next **12-16M**, possibly till Q2 2025
Make note that A strong sign that the Bull trend of the 4year Cycle is is 95% over is when Price hits the M21ema after an extrem extreme overvaluation.
Usually price will follow through 40-60% below the M21ema.
