Now, if receive big support from the community as well as from the government, it gonna have chances to move forward. I've never think we fall more below $3.5k, we are currently lock up by $3.5k since from the start of this year.
It actually ETH ask help for Btc and everything on the status of the market will just be depending of what happen to BTC. We all still in a wild guess.
you are right, this market condition will depend on the state of bitcoin. if bitcoin is able to move up, I think stability can begin to form. now bitcoin is still very weak on the market, and ethereum I think will wait until bitcoin moves up.