$ETH sits near 2,926 after a heavy flush from 2,953 into 2,912, forming a liquidity vacuum candle followed by a compression bounce. Volume expanded into the dump but faded into the recovery, signaling weak execution follow-through from spot buyers. MA5 ~2,926, MA10 ~2,926, MA30 ~2,929 are converging overhead like a coiled risk band. The mempool behavior looks calm but fragile—if flows re-accelerate, slippage could return fast. A break-and-close above 2,940 gives the market room to breathe toward 2,963, but failure to hold the cluster invites 2,907 sweep. SL under 2,900 keeps exposure clean. Targets: 2,940 → 2,963 → 2,990.