Ethereum (ETH) Faces Weekly Volatility After Recent Gains

My current view on Ethereum (ETH) is that it is experiencing a modest increase, with the current price at approximately $3,525.60, reflecting a 2.38% rise. In Turkish Lira, ETH is trading around 143,805 TL, up by 2.3%. Despite this local currency growth, the weekly change shows a significant decline of 11.23%, indicating recent volatility and a potential correction after previous gains.

The highest trading point this week reached 145,378 TL, while the lowest dipped to 140,115 TL. The trading volume stands at approximately 3,560,153.48 TL, showcasing active market participation without extreme fluctuations. This data suggests a somewhat volatile environment for ETH within the past week, possibly driven by broader market shifts, investor sentiment, or macroeconomic factors.

Given this context, I would advise investors to remain cautious. The recent drop despite a slight recovery might hint at underlying resistance levels or short-term retracements. It's essential to monitor upcoming market signals and Ethereum's response to broader cryptocurrency trends and news, especially considering the important support and resistance levels around the weekly low and high. A measured approach, waiting for confirmation of trend reversal or stabilization, could be wise before making further investments or divestments.