ETH price has dipped below $1,800, representing a 14% weekly decline.
RSI indicates that the pullback could be near its end as ETH enters oversold territory.
Ethereum's exchange netflow suggests the correction could be nearing its end with more ETH being withdrawn from exchanges than deposited.
Market observers remain optimistic that a rebound is possible if ETH reclaims $2,000, while a further breakdown to $1,500 is envisioned if the price remains below $1,800.