Almost 24 hours ago, the Ethereum (ETH) long-awaited Shanghai Upgrade took place successfully. Many have anticipated a dip alongside the upgrade. However, contrary to expectations, the price of Ether (ETH) has been on an upward trajectory since the upgrade took place.

Over the past 24 hours, following the Shanghai launch, Ethereum has recorded a bullish trend that is currently up by more than 6% with its market price now trading above the $2,000 mark. Its trading volume has also surged suggesting buying pressure. 

As of yesterday, prior to the Shanghai upgrade launch, ETH was in a downtrend trading below $1,900. This could be a result of some investors in the hours leading to the upgrade selling off their ETH holdings in anticipation of a price crash. 

However, after the upgrade was completed, the price of ETH started to rise steadily, and within 24 hours, it had breached the $2,000 mark. Looking at the chart, ETH just broke the marked resistance and is about to hit a major high around the $2,030 region.

(by Samuel Edyme)