diff --git a/pkg/payload/precondition/clusterversion/upgradable_test.go b/pkg/payload/precondition/clusterversion/upgradable_test.go
index 3b4f95b00a..222a585e8b 100644
--- a/pkg/payload/precondition/clusterversion/upgradable_test.go
+++ b/pkg/payload/precondition/clusterversion/upgradable_test.go
@@ -116,7 +116,7 @@ func TestUpgradeableRun(t *testing.T) {
 				},
 			}
 			if len(tc.currVersion) > 0 {
-				clusterVersion.Status.History = append(clusterVersion.Status.History, configv1.UpdateHistory{Version: tc.currVersion})
+				clusterVersion.Status.History = append(clusterVersion.Status.History, configv1.UpdateHistory{Version: tc.currVersion, State: configv1.CompletedUpdate})
 			}
 			if tc.upgradeable != nil {
 				clusterVersion.Status.Conditions = append(clusterVersion.Status.Conditions, configv1.ClusterOperatorStatusCondition{
diff --git a/pkg/payload/precondition/clusterversion/upgradeable.go b/pkg/payload/precondition/clusterversion/upgradeable.go
index 719f32df6e..04e29eaae3 100644
--- a/pkg/payload/precondition/clusterversion/upgradeable.go
+++ b/pkg/payload/precondition/clusterversion/upgradeable.go
@@ -62,8 +62,10 @@ func (pf *Upgradeable) Run(ctx context.Context, releaseContext precondition.Rele
 		return nil
 	}
 
-	currentMinor := getEffectiveMinor(cv.Status.History[0].Version)
+	currentVersion := getCurrentVersion(cv.Status.History)
+	currentMinor := getEffectiveMinor(currentVersion)
 	desiredMinor := getEffectiveMinor(releaseContext.DesiredVersion)
+	klog.V(5).Infof("currentMinor %s releaseContext.DesiredVersion %s desiredMinor %s", currentMinor, releaseContext.DesiredVersion, desiredMinor)
 
 	// if there is no difference in the minor version (4.y.z where 4.y is the same for current and desired), then we can still upgrade
 	if currentMinor == desiredMinor {
@@ -82,6 +84,20 @@ func (pf *Upgradeable) Run(ctx context.Context, releaseContext precondition.Rele
 // Name returns Name for the precondition.
 func (pf *Upgradeable) Name() string { return "ClusterVersionUpgradeable" }
 
+// getCurrentVersion determines and returns the cluster's current version by iterating through the
+// provided update history until it finds the first version with update State of Completed. If a
+// Completed version is not found the version of the oldest history entry, which is the originally
+// installed version, is returned.
+func getCurrentVersion(history []configv1.UpdateHistory) string {
+	for _, h := range history {
+		if h.State == configv1.CompletedUpdate {
+			klog.V(5).Infof("Cluster current version=%s", h.Version)
+			return h.Version
+		}
+	}
+	return history[len(history)-1].Version
+}
+
 // getEffectiveMinor attempts to do a simple parse of the version provided.  If it does not parse, the value is considered
 // empty string, which works for the comparison done here for equivalence.
 func getEffectiveMinor(version string) string {