first ETH has to be dumped down to go down to its real value then we can talk about bouncing back. although the real value of it is not easy to determine because its only utility is ICOs and they are failing these days.
some say its value is below $50 though.
after it reached that price then it will surely starts having pumps again. although i doubt that it can ever go back to its ATH, that price was a one time thing.
Ethereum has numerous use cases and most entities experimenting with blockchain are doing so with Ethereum. Decentralized exchanges, blockchain games, cloud computing, decentralized prediction markets, virtual asset exchange, autonomous investment funds... The list goes on. ETH might keep dipping in panic sell mode but I don't see it dropping below the 0.025 BTC floor we saw last year. It doesn't matter if most of the developments are bogus, it has dozens of legitimate platforms and products built on it today that are worth multi-millions.
If we ever see .025 BTC ETH I'm taking my spare BTC onto bitmex and opening a fat Ethereum long