Ethereum is clearly in a bear season, there is no doubt about that. After the crash in the price of the coin it seems that the price of the coin then corrected but it only ended up doing so at a low price which puts it into a bear season. Can't say I am surprised though, I have been expecting this as it happens with coins which grow tremendously like ethereum did
You are right, ETH is facing it's tough situation. It is a strong contender it will never give up very quickly. Hopefully it will be back with a bang as it will recover slowly and rock again.