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The price movement of Ethereum in the next three days has a high degree of uncertainty. From a Technical Analysis and market dynamics perspective, there are mainly two possibilities:
Possibility of an increase: If Ethereum can effectively break through the resistance level between $4,293 and $4,300, consistent with the 0.5 Fibonacci zone, it may open the path for an increase to $4,406, and further rise to $4,565 at the 0.786 level. Continuing capital outflows indicate capital accumulation, and the selling pressure is weakening, which also aligns with investors' confidence in higher prices.
-Possibility of a decline: From the daily chart, the participation in the spot market is weakening, and the On-Balance Volume (OBV) has been on a downward trend since September 12, indicating that selling pressure exceeds buying activity, which exacerbates the downside risk for Ethereum price. If buying pressure continues to weaken, Ethereum may fall back below $4,000 and further dip to $3,875.