The recent Ethereum Shanghai upgrade, which occurred just five days ago, has led to a remarkable surge in the asset value, up by approximately 10% to trade at around $2,100 on Monday. This has pushed Ethereum to scale to an impressive 11-month high, with bulls eagerly approaching a crucial resistance/support level between $2,274 and $2,662.
However, with the ongoing re-balancing of the staked ether, volatility in this second-largest digital asset is expected to remain high, adding to the excitement of crypto traders and investors.