The price trend of Ethereum in the next three days is relatively complex, with significant uncertainty. The analysis of various factors is as follows:

Technical analysis

From the 4-hour K-line chart, Ethereum's latest closing price is between the lower and middle bands of the Bollinger Bands. The price has fallen below all key moving averages, and the moving average system shows a bearish arrangement, indicating a clear short-term bearish pattern. The MACD indicator shows that bearish momentum is still operating below the zero axis, and the downward trend has not ended. However, the Bollinger Bands' width is narrowing, suggesting that volatility is compressing and there may be a choice of direction in the near future. If the support level at the lower band of 4003 USD cannot be maintained, it may test the previous low of 3983 USD, and if broken, the target may look at the range of 3800-3600 USD; if it can break through the middle band of 4285 USD with volume and stabilize, the target would then be the upper band at 4567 USD.

Fundamental Analysis

- Positive factors: The Fusaka upgrade of Ethereum has entered the advanced testing phase, with the mainnet scheduled to launch in early December, which may have a positive impact on the price. In addition, the newly approved spot Ether ETF saw fund outflows in mid-month, but overall institutional interest has not reversed, and large investment institutions' capital is still flowing into Ethereum. Meanwhile, U.S. inflation has gently receded, and employment data indicates a slowing economy, with Federal Reserve officials expressing support for a slight interest rate cut in late October, which is expected to boost demand for risk assets and benefit the price of Ethereum.
- Bearish factors: The new tariffs imposed by the U.S. on Chinese goods and other trade tensions may trigger risk aversion in the market, leading to a decline in Ethereum prices. Moreover, the persistent expectations for delayed interest rate cuts by the Federal Reserve and the high interest rate environment suppress the appeal of risk assets, resulting in limited liquidity in the cryptocurrency market.

Market Sentiment Analysis

The price reversal in mid-October caused a significant drop in the Fear and Greed Index, but on-chain data shows that long-term wallets are resuming accumulation. Some seasoned investors are also becoming optimistic, believing that this pullback might be an accumulation opportunity. However, the overall market sentiment remains relatively weak and is easily influenced by various news.

Overall, the risk of a decline in Ethereum prices is relatively high in the next three days, but there is also the possibility of a technical rebound. If key support levels cannot be maintained, prices may continue to fall; if there is sufficient buying support and resistance levels are broken, a rebound is expected. However, it should be noted that the cryptocurrency market is highly volatile and full of uncertainties. The above analysis is for reference only and does not constitute investment advice.