It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.
True, if I am one of the buyer, I would literally wait for the Mt. Gox dump to happen because I wanted to buy Bitcoin in lower price. This kind of situation sucks for Bitcoin economy, though a good opportunity to those new comer to join the Bitcoin market. This will be just wait and see stuff, and that is the reason why buy support had been pulled out.