Ethereum price is already below $500 and it still going down due to bitcoin price dip. Ethereum and other top cryptocurrencies are always dependent in bitcoin price fluctuations. If market prices continue to slide down, there is a possibilty of ethereum reaching the $400 soon. But I believe this is only temporary and will bounce back again in due time.
Yes, we must be ready for any situation. It is really impossible to predict the price of any cryptocurrency including Ethereum now. Hope now it will only grow!