$ETH is cooling off after a strong run, and the chart is showing a clear reset phase.

Price is holding near 3,086 after a sharp rejection from the 3,440 area. That zone triggered heavy profit taking, and sellers stepped in quickly. The move down was fast but it did not turn chaotic which suggests controlled distribution rather than panic selling.

ETH is now reacting around the 3,000 psychological level. This area is important. Selling pressure is slowing and candles are getting smaller showing that buyers are trying to stabilize price.

Volume is also calming which usually happens when the market looks for balance.

The key support zone lies between 3,000 and 2,980. Holding above this range keeps the structure intact and allows room for a recovery. A break below could open the path back toward the 2,900 region.

On the upside the first resistance sits around 3,150 to 3,230. A clean break and hold above this zone would signal renewed strength and open the door for another upward attempt.

Overall $ETH is in a healthy pullback phase. The market is digesting recent gains and the next direction will become clearer once support or resistance gives way.

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