ETH is already recovering a little bit, I think you could've bought that red line to 950k,...I admit I picked some, to me that's the trendline before the Dao and I couldn't help myself. Like many we are all waiting to get ETH at $3-5. I suspect we will never see that, not even in a flash crash but stranger things have happened.
I thought it recovered but price is now back to below $8- even despite small upward trend we noticed today.
What is happening is people selling ETH to buy bitcoin because of the news about China and India is banning gold trading/export.
I think the price will only recover when there is no more attack on the Ethereum network when it become very robust.