While I would definitely like to believe so, the fact is that the news hasn't suddenly changed (i.e. no singular announcement preceded this activity) if anything the news occurred during/before the downtrend.  So I definitely would be cautious in thinking it will remain consistent and not reverse.  It's also true that we were way oversold for a long time - so if anything this is more of a correction to the long-term trend... in which case it's bullish, but reservedly so.

Hopefully, this signals the end of the alt-coin bubble - and the consolidation of capital into just a few of the coins with better than average long-term prospects.