$3 impacts Coal becomes attractive again = utilities switch back.
Current offline rigs becomes online = high production/injection rate (again) and storage headaches. NG companies have been hoping and praying for 2.50-3.00.
The current rally is actually BAD for NG and will contribute more to its volatility. A fair price I would say is around $2.20ish, at least not until the current inventory levels are under control and LNG exports / Transportation demand pick up, resulting in a sustained growth and not something based unpredictable weather alone.
Wallstreet idiots are disconnected from reality so its possible NG goes above 3$.