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Everton, which previously collected 14 points and was in 14th position in the standings, has now been thrown into the temporary relegation zone after being proven to have violated the FFP. The reduction of 10 points means that Everton now only get 4 points and they have to fight again to collect points in each match in order to be free from the relegation zone. This is the punishment that Everton must accept and it seems that they cannot do anything because the federation has decided that. I feel that Everton, who usually finish at the bottom of the table every season, now still have to repeat the same thing and of course they have to remain strong to get through this dark period.

Looking their' recent performance, I don't think they will relegated. I believe they will comeback, but after all Everton is just Everton, they can't going up to reach top 7 and will end near bottom position.
However I remember before this season started, many people were praise Burnley and they think Burnley could be a new contender, but they're currently stay at the lowest position lol.

Even after losing 10 points, I think Everton can stay at a safe distance from the relegation zone. If players lose confidence after losing 10 points.
Everton have won three of their last five matches and lost just one. And if they can maintain such consistency, they will be able to get out of the relegation zone in the next few matches. Because LutonTown, who is 17th in the table, has only 6 points. If Everton wins their next match, they have a chance to move to 17th place in the table. Everton is also 5 points behind from Bournemouth, who are in 16th place in the table. Bournemouth and Luton Town's performances are very poor. And so I'd say we'll see Everton 16th/17th in the table very soon.

It's easier said than done and don't forget that this sporting penalty has a psychological effect on the players because the offence of the club is what they are being punished for. It's just like a wasted season for them as nothing serious is sure for them this season with this kind of penalty. It's a very good reason to be angry with the club and its management, however, the management of the players at this time is crucial, and it would take very good managerial skills to calm them internally and build their confidence back in the club. You can use the Juventus case as an example, it took them several weeks before they could buckle up as the players might have written off the season and started playing anyhow.
But with the right mental state, they might be able to get out of the relegation zone which I believe can't be a compulsion for the players unless the club is wise to deal with them carefully. You also have to consider the opponent they will face in recent months to draw the conclusion. They will meet Man U in the next 2 weeks, I hope they are in their right mental state by then, if not, the yearning Man U will devour them.

I agree with you that the punishment given to the club affects the mentality of their players. And that's why I said that if the players lose confidence because of this punishment, then they can do well in the next matches. It is not possible to guarantee that Everton will do well. But if the players are confident they are more likely to do well now. Because their performance in the last matches was quite good.

Last season in Serie A we saw a 15-point deduction from Juventus. Even so, the team finished seventh in the table. Their performance was quite good. The Everton coach must now try to strengthen the players mentally. Make them confident. I believe if the players are confident it will be very easy for Everton to get out of the relegation zone.