ETH is still good, it's just a matter of time.
ETH to drop below $100, that's good, it gives an opportunity to buy again although it can't be deny that there might be a panic in the market if that would happen. On the other hand, if it will goes $600, that's also good but I don't think it's gonna happen if BTC would remain at its current movement now.
Sideways movement of BTC will not ignite a rally of altcoins, BTC should move uptrend and break its ATH, and then we can possibly see it at over $600.
But that will make some people sad because they still hold until now. But that will be the best time to buy a huge amount of ethereum, and I am sure that people don't want to miss that chance to buy ethereum at a low price. But if the price can bounce back to $600, people who hold ethereum from a few years ago will be happy because, in that time, they can sell ethereum at a high price. But I don't think that it will happen in a short time because ethereum dropped too deep which I think it needs time before it could increase back.