There is just no one will keep buying ETH anymore to make its price of up if all investors who bought ETH while the price was less than $1 are selling them to quit now that they knew its not going to survive the competition due to the newer platforms that are just scalable than ETH. The platform is just going to die because of a bigger project like EOS and TRX.
I personally don't see the ethereum platform demise coming anytime soon. The bearish trend on the market is general as both bitcoin and a substantial number of altcoin has been hit and ethereum happens to be one of the altcoin that is declining like others. I believe that the market would recover before long and ethereum would join bitcoin in the uptrend.