Aside from buy and sell walls which can manipulate people, and news which can swing it either way, it does not look yet like Eth has confirmed a direction.  There are better analysts than me who understand how to read/use buy-sell-walls.

Technical analysis shows it has slightly broken out of its downward channel, but does not have a confirmed direction yet.  If it holds and continues to rise in the direction it's going now, then yes, it has a new upswing.  But this is still very premature.  It may take another week to tell, and it needs a few higher highs and lows to confirm.  This August thing with BTC and SEGWIT and whatnot is likely a key driver in the next phase of Eth.

I, too, have some eth, fewer coins than before, and I'm waiting on a direction.  I don't mind missing 5-10% until I see something that makes sense.  Right now, it's sideways, and I can't tell what it will do.

The 1 year chart does not look yet like it's moving.
The 3 month & one month charts shows sideways movement - uncertain future
The 7 day chart is nearly flatline
The 1 day chart is showing the same starting/ending price, with slight rises an dips.

Meanwhile, other coins are moving faster and higher, reclaiming their lost territory.  To me, it makes sense to nudge monies into the movers, and then if Eth starts to move, push some back.  I don't see how buying and holding and hoping is going to make Eth move any faster. 

A year from now, I believe Eth will be easily above $500, so buy and hold would likely be just fine.  In the meantime, though, it's more than possible to double ones money in alts that are moving, and then push money into Eth and BTC as they start to move.  Doesn't even need day trading - swing trading - weekly - would probably be just fine for the alts that are on the move.  Eth does NOT appear to be on the move just yet.

Might be a different story next week as people start pulling money out of BTC since exchanges are going to freeze those assets/wallets for a day or more.