Of course, you can go over it. Most of the time I saw the client posted the job with a low budget. What I did to submit my proposal and budget which I required to complete the task. I do write a few lines explaining why the budget is higher than the job post. Now it's buyer call if he/she wants to give a try or find someone else who can fit his/her requirement.
Many Upwork clients have no idea what their project should cost.
Many Upwork clients come to Upwork looking to find someone who will work for less money than the client believes (s)he can find in their local market.
Upwork won't provide you any information about what other freelancers are charging for a particular project, so you can't easily fall back on that information to understand where your bids are falling in relation to other bidders.
The best you can do is find projects that are a very good fit for your skills and experience and place a bid that makes sense to you. If you are new to Upwork and have no real world experience with the types of projects you are bidding on, it will take you a while before you see a pattern in what price points are most likely to win projects for you.