ATOM Technical Analysis Jan 29

ATOM is facing a critical intraday support test at $2.19. In the 24-48 hour outlook, the downtrend dominates, BTC pressure is challenging altcoins. Nearby levels should be closely monitored.

Short-Term Market Outlook

ATOM is trading at $2.19 on the morning of January 29, 2026, and stayed within the $2.18-$2.30 range with a 1.57% decline over the last 24 hours. The short-term trend is clearly downward; the price continues to stay below EMA20 ($2.24), strengthening the bearish signal. RSI at 36.57 is approaching the oversold region, but this alone does not guarantee a reversal. Although the MACD histogram is positive, overall momentum is weak, and Supertrend remains bearish at the $2.31 resistance. Volume is around $44M, low compared to previous days, which may limit volatility. In a multi-timeframe (MTF) context, we have 7 strength levels across 1D, 3D, and 1W timeframes: 3 supports/2 resistances on 1D, balanced distribution on 1W. In the short term (4H and 1H), focus should be on a break below $2.18 or recovery above $2.21. If the intraday range narrows, sudden moves are possible; however, BTC’s downtrend may hinder upside in altcoins. The outlook for the next 24-48 hours is cautiously bearish, with quick scalp opportunities to be sought at tight levels. Risk: Short-term trades involve high volatility, stop-loss is mandatory.

Intraday Critical Levels

Nearby Support Zones

Main intraday support at $2.1834 (score: 66/100), very close to today’s low of $2.18. If this level breaks, a quick acceleration toward the $2.15-$2.16 range (previous swing low) is possible, invalidation above $2.20 close. Second support around $2.15, aligned with 1D support from MTF. These zones have potential for scalp longs, but volume confirmation is required.

Nearby Resistance Zones

First resistance at $2.2101 (score: 74/100), combined with EMA20 $2.24. On breakout, $2.3029 (score: 66/100) and Supertrend $2.31 are targeted. Today’s high of $2.30 tested this zone, re-rejection likely. Invalidation with close below $2.18.

Momentum and Speed Analysis

Short-term momentum is mixed: RSI at 36.57 gives an oversold signal that could attract bottom hunters, but MACD’s positive histogram is weak (below zero line). Supertrend is bearish, speed analysis (momentum oscillators) preserves downside momentum. No negative divergence on 1H chart, but volume is low ($44M) – requires caution against sudden spikes. On 4H, EMAs are in down order, price at the lower channel band. Volume increase is required for quick moves; otherwise, it may remain range-bound ($2.18-$2.21). For short-term traders: Keep position sizes small when momentum is weak, target 1:2 RR.

Short-Term Scenarios

Upside Scenario

Activates with break above $2.2101 resistance and close above $2.24 EMA20. Target $2.3029-$2.31 Supertrend, further $2.4036 (score:34). Trigger: RSI rise to 50 + volume spike. Invalidation: below $2.1834. Probability low (%35), dependent on BTC recovery. Scalp long: $2.19 entry, $2.21 stop, $2.30 target.

Downside Scenario

Triggered with break of $2.1834 support and close below $2.18 low. Target $2.15, then $1.9070 (score:28). Trigger: BTC break below $87.5K. Invalidation: above $2.21. Probability high (%65), aligned with current trend. Scalp short: $2.19 entry, $2.21 stop, $2.15 target. High risk: Oversold RSI bounce risk exists.

Bitcoin Correlation

BTC at $88,288 with 0.80% decline in downtrend, Supertrend bearish. Main supports $87,595 / $86,571; if broken, serial liquidations may be seen in altcoins. Resistance: $88,610 / $89,337. ATOM has +0.85 correlation with BTC; if BTC stays below $88.6K, ATOM’s $2.18 test accelerates. BTC breakout above $89K could take ATOM to $2.30. Altcoin traders should prioritize monitoring BTC levels – rising dominance crushes alts.

Daily Summary and Monitoring Points

– Main watch: $2.1834 support and $2.2101 resistance.
– Trigger: Volume increase or BTC movement.
– Risk: Limit short-term scalps to 1% risk/position, volatility high.
– For detailed review: ATOM Spot Analysis or ATOM Futures Analysis.
Expect range breakout in 24-48 hours, stay technically focused without news. Capital management critical: Max 2% risk daily.