“ETH update: Ethereum is trading around the $3k area after a sharp pullback, with price still sitting below key moving averages and MACD firmly negative. Short term momentum is washed out though, with lower time frame RSI nearing oversold while spot and perp volumes stay elevated, showing real two sided interest around this zone. ETH dominance is holding up versus the rest of the market and social sentiment looks neutral rather than euphoric or panicked. As long as the $2.9k–3k band holds, this looks more like a corrective phase than a full trend reversal, with the $3.1k–3.3k region acting as the first resistance to clear on any bounce.”

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