Plus token dumping ETH may be the reason for price drop of ETH but it cannot be the only reason I believe. Even BTC was dumped but it recovered whereas ETH could not recover. Personally I will be adding more ETH to my wallet if price drops. I trade forex with ETH as base currency and want to grow my ETH, it is a potential coin for me which must recover. I am not expecting ETH to go below $100 this time.
it happened because of market conditions. the pump that happened this year could move ETH even though it fell back. that's because of the dominance of bitcoin which is very strong. if ETH wants to grow with bitcoin I think there must be a reason for increasing adoption of ETH today. when the pump happens to bitcoin I think ETH could have followed it.