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The price movement of ETH in the next three days has a high level of uncertainty. The analysis from technical and market sentiment perspectives is as follows:
Technical indicators show a possibility of rebound due to overselling: Ethereum's recent decline has led to long liquidations, with the stochastic oscillator entering an oversold state and the relative strength index (RSI) falling below neutral levels. Typically, the oversold conditions of the stochastic oscillator indicate a potential market recovery, which could drive ETH price to experience a certain degree of rebound in the next three days.
- Key support and resistance levels affect price: ETH is currently testing the support level near $4100. If this support fails, it may drop to $4000 or even $3600. However, if it can recover and hold above the 50-day and 20-day SMA, it is expected to break through the key level of $4500. On the upside, $4300, $4440, and $4665 are immediate resistance zones, with a breakthrough at $4665 opening up higher price space; on the downside, $4000, $3950, and $3800 are major defensive areas.
- Market sentiment and capital flow are in contradiction: the long/short ratio is 1.055, indicating that traders have a certain bullish sentiment, but the fear and greed index shows 45 (fear), making the overall market sentiment cautious. Meanwhile, last week, the inflow of Ethereum ETF reached $1.12 billion, but on-chain data shows a net outflow of $274 million on September 22, indicating a conflict between institutional investors increasing their holdings and large amounts of capital flowing out of spot exchanges, which also complicates the price movement of ETH in the next three days.
It is important to note that the cryptocurrency market is highly volatile, and price predictions carry a high degree of uncertainty. The above content is for reference only and does not constitute investment advice.