Ethereum Shows Short-term Correction After Recent Weekly Drop

I observe that Ethereum (ETH) is currently priced at $3,488.99, reflecting a 2.69% rise, and approximately 142,248 Turkish Liras, up by 3.02%. Despite these positive daily changes, the weekly trend shows a significant decline of 10.59%, indicating some volatility and potential correction after a recent peak.

The highest value reached recently was 143,125 TL, with the lowest at 136,977 TL, suggesting considerable fluctuation within the week. The trading volume stands at 9,083,002.39 TL, which indicates robust market activity and liquidity for ETH at this level.

From a broader perspective, the weekly decrease amidst a positive daily movement might imply some profit-taking or market recalibration following recent gains. This signals traders should remain cautious and watch for potential support levels around the weekly low and volume activity to gauge future movements.

Considering the current volatility and trading volumes, I recommend monitoring Ethereum closely, especially around key support levels, and wait for clearer confirmation of trend direction before taking new positions. ETH remains a significant player in the crypto space, and these fluctuations are typical in volatile markets like cryptocurrencies.