Ethereum has displayed considerable strength, surging 10.66% in the last 24 hours to reach a price of $3,647. This upward movement accompanies a staggering trading volume of $47.87 billion, underscoring high levels of trading activity. During this rally, approximately $56.5 million worth of liquidations occurred, predominantly impacting short positions. This development highlights the recent trend of traders adjusting their strategies in response to Ethereum’s price recovery. As the second-largest cryptocurrency, Ethereum’s performance is closely watched by market participants. The current momentum raises questions about its sustainability. Analysts are keen to understand whether this rally will continue or if there could be a pullback. For investors, Ethereum remains a focal point in the evolving crypto landscape, and staying updated on price movements and market sentiments will be pivotal for strategic decision-making.