right now ethereum has entered another bubble. it is smaller but it is still a bubble and this price looks to me like the top so i say this is sell time and buying here may lead to loss because of the dumps.
I also feel same for current ethereum pump, but it may also be quite natural bubble from increasing demand due to DAO tokens or some intresting coming after consensus. But whatever is the reason there will be soon be dumpers all around the market making correction in the price. Best time to buy coins are at the correction period.
ETH has been in a general down trend since the high on March 13. The April 30 spike broke some of that momentum when it bounced off the long term trendline. Then the DAO sale kicked in, which has sucked up around 3% of all Ethereum so far, and is providing a short term boost to the price. But as DAO sale ends--and if BTC cuts north on a big rally--ETH could be in for another big sell off.