Ethereum (ETH) has experienced a rough period, following the general downturn in the cryptocurrency market. With its price dipping below $1,800, Ethereum’s market capitalization has fallen under $220 billion, marking a significant 14% weekly decline. The entire cryptocurrency market has been in a downturn recently, but for Ethereum, the dip below $1,800 could represent a potential buying opportunity for long-term investors.

Despite the negative market conditions, there are signs that Ethereum may be nearing a rebound. The Relative Strength Index (RSI) for ETH has dropped to around 20, which is the lowest since February. The RSI is a key indicator that measures the speed and change of price movements, with readings below 30 typically signaling that an asset is oversold and could be due for a reversal. This could indicate that Ethereum is ready for a potential bounce back in the near future.

Additionally, Ethereum’s exchange netflow suggests that the correction might be nearing its end. In recent weeks, more ETH has been withdrawn from exchanges than deposited, a trend that typically signals that investors are moving their assets into self-custody. This shift could reduce immediate selling pressure, making it less likely that the price will continue to decline drastically.

Despite the decline in price and market sentiment, there is still a sense of optimism among some market observers. The price of ETH was over $3,300 at the start of the year, and its current price represents a 45% drop from New Year’s Eve. However, some analysts believe this dip could present a unique buying opportunity. Crypto General, a popular analyst, stated that “for long-term people, it’s a golden opportunity to add at such cheap prices,” highlighting that such price zones don’t often occur. The analyst also noted that if Ethereum manages to reclaim the $2,000 level, it could lead to bullish momentum in the coming months.

However, not everyone is so optimistic. Some analysts, like Crypto General, caution that the price could drop further to $1,500 if it remains below the $1,800 “skeptical zone.” With the broader economic uncertainty and a potentially turbulent April on the horizon, the next few weeks could prove critical for Ethereum’s price.

In addition, renowned analyst Michael van de Poppe pointed out that gold has had a successful quarter, unlike Ethereum, which has seen significant losses. He suggested that Ethereum’s struggles could be linked to upcoming events in the macroeconomic landscape, such as Donald Trump’s tariffs, which are scheduled to take effect on April 2. This could trigger additional uncertainty in both the financial and crypto markets. Van de Poppe also mentioned the possibility of a “Sell the rumor, Buy the news” scenario, where market participants sell based on negative speculation only to see the actual news trigger a rebound, potentially leading to a buying opportunity.

While Ethereum’s short-term outlook is uncertain, the combination of oversold conditions, lower selling pressure, and ongoing macroeconomic factors could provide a chance for ETH to recover. If Ethereum can reclaim key price levels, it could signal the start of a more sustained bullish phase. For those willing to take the risk, ETH below $1,800 might be viewed as a golden opportunity to invest for the long term.