ETHUSD: Buyers Target 2480 Resistance as Short-Term Recovery

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of ETHUSD for October 21, 2026.

Technical Analysis of ETHUSD

ETHUSD Daily Chart Insight

(ETHUSD Daily Chart, Source: Ultima Markets MT5)

ETHUSD remains in a corrective phase following its September rally towards the 2769 region. The subsequent decline has pushed prices below both the red 16-period moving average (MA16) and the purple 50-period moving average (MA50), suggesting that sellers retain the near-term advantage. While the red MA16 continues to slope downward and the purple MA50 has started to flatten, the blue 100-period moving average (MA100) remains upward-sloping, indicating that the broader recovery structure has not been fully invalidated.

The daily RSI at 43.97 also reflects subdued buying momentum. Although recent price action shows signs of stabilisation around the 2398–2449 region, a sustained recovery above the MA16 and MA50 is needed to confirm a stronger bullish reversal. Otherwise, renewed selling pressure could bring the rising MA100 back into focus.

Key Levels:

• Support 1 (2397.90): Immediate support around the recent trading area, where buyers have attempted to stabilise prices following the latest decline.
• Support 2 (2336.00): A significant support region near recent October swing lows, where previous selling pressure encountered buying interest.
• Support 3 (2274.10): A deeper support area near the rising blue 100-period moving average (MA100), which could determine whether the broader recovery structure remains intact.
• Resistance 1 (2480–2521.70): Immediate resistance around the declining red 16-period moving average (MA16) and recent price congestion.
• Resistance 2 (2583.60): A higher resistance region beyond the purple 50-period moving average (MA50), where previous October price action encountered selling pressure.
• Resistance 3 (2707.40–2769.30): A major resistance zone encompassing the late-September trading highs, representing a significant barrier to any broader bullish recovery.

ETHUSD 2-Hour Chart Analysis

(ETHUSD 2-Hour Chart, Source: Ultima Markets MT5)

The 2-hour chart suggests an emerging bullish recovery following the recent decline, although the broader short-term downtrend has not been fully reversed. ETHUSD has rebounded from its recent lows and climbed above the red 16-period moving average (MA16) and purple 50-period moving average (MA50), with the red MA16 beginning to turn upward. Meanwhile, prices are testing the declining blue 100-period moving average (MA100), making this region a critical barrier for further upside. The latest rebound briefly approached the 2480 resistance area before consolidating around 2447.

RSI reading of 57.75 indicates improving bullish momentum without entering overbought territory. However, the downward slope of the MA100 suggests that buyers still need to establish a sustained breakout above recent highs to confirm a stronger trend reversal.

Breakout Scenarios:

• Bullish continuation is a possible scenario, triggered by a decisive break and hold above 2480. This could open the way towards 2501.85, followed by the higher resistance area around 2523.70.
• Bearish correction is a possible scenario, triggered by a failure to maintain support around 2436.30–2414.45, where the moving averages converge. A sustained breakdown could expose 2392.60, followed by the lower support region around 2370.75.

ETHUSD Pivot Indicator

(ETHUSD 30-Minute Chart, Source: Trading Central)

The 30-minute chart maintains a bullish intraday bias, with ETHUSD trading around 2445, comfortably above the key pivot level at 2401. Recent price action shows an upward breakout followed by consolidation, suggesting that buyers are attempting to preserve their gains before another potential advance. The RSI at 56.47 remains in positive territory, although its recent flattening indicates some moderation in buying momentum.

Meanwhile, the MACD remains above its zero line at approximately 11.34, with its lines converging as upward momentum stabilises. As long as ETHUSD holds above the 2401 pivot, the immediate bullish outlook remains intact, with resistance levels at 2480 and 2499 serving as the next upside objectives.

• Bullish Breakout: A sustained hold above the 2401 pivot would preserve the bullish preference, with a move through 2480 opening the way towards the second upside target at 2499. Stronger confirmation would come from the RSI rising above its current 56.47 reading and the MACD extending higher above its signal line.
• Bearish Rejection: A decisive breakdown below the 2401 pivot would weaken the bullish structure and shift the immediate bias towards further downside, exposing the first support at 2369, followed by 2350. Confirmation would require the RSI to weaken further from 56.47, alongside a bearish MACD crossover and declining momentum towards the zero line.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.