Ethereum will continue to slowly bleed out over next 26 days until the "stolen" ETH is available to be spent. The big bleedout will occur when one of two things happen:

1. Ethereum forks, either soft or hard, both would be disastrous to the long term viability of ETH. It would be a very dangerous precedent to set.
2. No action taken, the "stolen" funds become spendable and the attacker dumps them all on the market, because who the hell wants to sit on several million dollars worth of funny money?

Either scenario would involve a mass dump return and Ethereum back to sane pricing. Over 1 billion market cap for an unproven system was always unsustainable - this just hastened things along. I would not be surprised to see it go under $1 or $2 after all this is said and done. I worry what the community will do, since this situation is very similar to what happened with NXT, even though no fork was issued there, the community was split down the middle and the coin never recovered.

Time will tell. Ethereum still has a long term chance if they do not fork, and the community does not divide itself, though it will take a long time to recover from this market shock. Very unfortunate situation for all involved, but maintaining fungibility should take priority over everything else.