Underlying Index Performance: The price of 3XLE is primarily affected by the daily performance of the Energy Select Sector Index, which it aims to track with 3x leverage.

Crude Oil Prices: As an energy-focused ETF, fluctuations in crude oil prices significantly impact the index 3XLE tracks, thus affecting its price.

Leverage Factor: The 3x leverage magnifies both gains and losses in the underlying index, resulting in larger price swings for 3XLE compared to a non-leveraged ETF.

Market Sentiment: Overall investor sentiment towards the energy sector and the broader market can influence demand and trading activity for 3XLE, affecting its price.

Interest Rates: Changes in interest rates can indirectly impact 3XLE's price by affecting the cost of borrowing for energy companies and influencing investment decisions.

Volatility: High market volatility in the energy sector can lead to increased price fluctuations in 3XLE due to its leveraged nature, creating larger potential gains or losses.

Expense Ratio: The ETF's expense ratio, which represents the annual cost of managing the fund, can slightly reduce returns and therefore affect its price over time.

Rebalancing: The daily rebalancing process of leveraged ETFs can affect their price, especially during periods of high volatility or trending markets, due to the effects of volatility drag.