The price of Ethereum (ETH) has surged over the last 24 hours, breaking through numerous resistance points as it rallied more than 8.5% to $132.72.

Now, based on the current chart, a breakthrough of the current range could see the largest altcoin quickly move back to $155, where it broke down at the beginning of the year.

ETH/USD via CoinCodex

While there hasn’t been any major announcement to explain the move higher, the rally comes as ETHDenver, an Ethereum developer conference, comes to an end. The event featured a number of Ethereum-based projects and startups that presented major development updates.

One such example was the weekend’s release of the alpha version of OmiseGO’s (OMG) Plasma MoreVP (More Viable Plasma), a second-layer scaling solution, on the public Ethereum (ETH) network.

Overall, investor interest appears to have returned to the crypto market as major altcoins continue to put in higher lows.

More: AltDex 100 Cryptocurrency Index
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.



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