Let's begin with what happened recently: We had a bounce at the MA50 just as Bitcoin did and Ethereum moved up. There is even a breakout of the big (after breakout there might be a little consolidation.
What comes next is probably an uptrend to ~660 level - for now. At ~660 USD there are two big resistances: a) fibonacci level and b) MA200.
Seeing how high the potential with is, we can say that it could work out. It appears that there is a cross coming marking another up move and is also still not in oversold area.