Ethereum Price Surges Over 7%: $236M Liquidations Fuel ETH Recovery – What Happens Next?

Ethereum climbed more than 7% to reclaim the $2,400 level, sparking a broader crypto recovery after volatility tied to the US midterm election results. The move triggered roughly $236 million in liquidations, with short positions likely among the hardest hit as buyers returned. The rebound matters because it signals renewed risk appetite across major digital assets following the election-driven selloff. Traders will now watch whether ETH can hold above $2,400 and convert the sharp bounce into a sustained trend rather than a short-covering rally.