$ETH is trading near 3031 after a sharp rejection from the 3115 high, followed by a healthy pullback and stabilization. Price is holding above the key EMA cluster with EMA 7 at 3026, EMA 25 at 3018, and EMA 99 at 3019, showing strong dynamic support. This tight EMA compression signals volatility buildup. As long as $ETH holds above the 3020–3000 zone, bullish continuation remains active. A clean break and close above 3055–3085 can open the path back toward 3115 and higher. Loss of 3000 may trigger a deeper retrace toward 2960. Momentum is coiling, breakout is loading.