Yes, your Item Not Received dispute will take a few days to work itself out.
I tried to contact the seller but he removed the item and even closed his Ebay account.
This is worrisome. It takes a long time for a seller to close his own account (to make sure there are no outstanding bills owing to eBay among other reasons) so it is more likely that eBay closed the account for malfeasance.
Do the words Not A Registered User appear after the original name?
If so, say this in the Dispute.
(He is selling same item on Ebay with different account!!)
Even more worrisome. Report the second ID to eBay. A NARU member is not allowed to open a new account. It may be a different seller entirely but if the listings are identical there is a strong case for removal.
If this is a mass market item, like electronic paraphenalia, the new seller may just be working from the same supplier's catalogue.