Ethereum surges with 18.44% weekly gain, nearing new highs

I observe that Ethereum (ETH) is currently trading at around $4,230.48, showing a weekly increase of 18.44%, which signals strong bullish momentum. In Turkish Lira, the price stands at 171,800.00 TL, reflecting a similar upward trend with a 4.39% increase. The highest recorded price this week was 175,871.00 TL, while the lowest was 164,250.00 TL. The trading volume has reached approximately 17.56 million TL, indicating active trading activity and investor interest. The significant weekly gain suggests a shift in market sentiment favoring Ethereum, possibly due to favorable developments, macroeconomic factors, or increased adoption. The current price levels are approaching recent highs, implying potential continued upward momentum if buying pressure persists. However, the volatility indicated by the weekly range warrants caution, as swift corrections could occur if market sentiment shifts. Investors should monitor key support levels around the recent low of 164,250.00 TL and watch for any major news impacting crypto markets. Maintaining a diversified portfolio and setting defined entry and exit points can help manage risk amid this bullish trend. Overall, Ethereum demonstrates robust weekly growth supported by strong trading volume. It remains an attractive option for traders looking to capitalize on bullish momentum, but vigilance is essential due to potential volatility in the crypto market.