The price of ETH will continue to dwindle with the poor performance of ICOs at the moment and with ICO project teams dumping insane amounts of ETH on the exchange, not forgetting the scam projects as well. If ETH is going to experience any price gains, I think at this point it's only going to be drive by Bitcoin and the road to recovery will be long and rough
Most probably you are right. The only thing that could help buck the trend is ETH 2.0 but who knows when that will actually come to fruition. ETH like most alt-coins now is just dependent on bitcoin for a recovery. Once BTC starts to trend upwards people will also regain confidence in alts.
Poor performance of icos is cause of lack of the investors, people in crypto hold to many well known coins. Many icos will fail over time, just handful of them will survive and become more popular, lets be real world is still struggling to accept bitcoin, litecoin, monero, and other top coins, so many icos doesnt help in that, but some of them will survive. In long term both ethereum and bitcoin will rise in price, this is just a drop that was pretty much expected, it happened before and now its time for everyone to show faith and stay or to sell and leave.