Ethereum likely to break out past $2000 but watch out for…

The Ethereum Shapella upgrade was successfully triggered and hailed as a historic milestone. It had no immediate impact on the price action, as this was an event the crypto sphere has known about for months now. On the 4-hour chart, the 21 and 55-period SMAs showed a strong bullish trend. The RSI has been above the neutral 50 mark for the majority of the past three weeks, reinforcing the idea of bullish momentum. As things stand, more gains look likely, but a breakout past the $2020-$2040 area over the next week would be necessary before we can conclude a breakout past the high timeframe resistance.