ETH like most all other coins have been on a downward spiral due to the prevalent market conditions. But ETH has been really hit because a lot ICOs performed poorly this year, scam ICOs also had an adverse effect on it as a lot of them dumped the ETH they generated during their token sales on the exchanges.
The market is very volatile..it has crazy movement. it is unpredictable, base on the market preview as posted. the entire crypto market had experienced a very strong storm, a huge volume of investment was wipe out on the 24hrs.period. the market bleed..but it is not the end of it. yes. a massive sell off on the market had contributed to bring down the price value of almost ALT coin and Crypto to a very lowest level. Still i am optimistic that the market will rebound after the drops.