CHZ Technical Analysis Jan 29

Today’s short-term outlook and key levels to watch

Short-Term Market Outlook

CHZ is trading at $0.05 as of January 29, 2026, showing weak performance with a 9.57% drop over the last 24 hours. The intraday range stayed within the $0.05-$0.06 band, with volume at a moderate $54.81M. The short-term trend is sideways, with price positioned below EMA20 ($0.05) and overall momentum under pressure. RSI at 38.10 is approaching oversold territory, but MACD shows a negative histogram and Supertrend bearish signals. A cautious approach is essential for the next 24-48 hours; the market is volatile and prone to quick reversals. 13 strong levels have been identified in higher timeframes (1D/3D/1W): 3 support/3 resistance on 1D, 2S/3R on 3D, 3S/2R on 1W. These levels will dictate short-term movements.

Intraday Critical Levels

Nearby Support Zones

Immediate support at $0.0505 (strength score 63/100) stands out; this level is 1% below daily lows and critical for quick scalp opportunities. Second support around $0.0490, but the real test will be the $0.0418 downside target (score 25). If these supports break, a quick drop to $0.0480 is possible within 24 hours, with invalidation on a close above $0.0516.

Nearby Resistance Zones

First resistance at $0.0516 (score 82/100) is a strong barrier; Supertrend shows bearish resistance here. Second level at $0.0582 (score 62), followed by upside target $0.0594 (score 35). If these resistances are breached, momentum could shift, but it looks challenging in the current bearish setup. Tight invalidation: bearish scenario strengthens on an hourly close below $0.0516.

Momentum and Speed Analysis

Short-term momentum is bearish; MACD histogram is negative and has crossed below the zero line. RSI is stable at 38, but a drop below 30 could trigger an oversold bounce. Speed analysis points to Supertrend resistance at $0.06, with selling pressure persisting as long as price remains below it. Volume decline dominates the sideways trend; sudden volume spikes should be watched for momentum breakouts. On the 4-hour chart, EMAs are near a death cross, increasing the downward bias for the next 24-48 hours. For scalping, the $0.0505-$0.0516 zone is ideal, but risk is high – keep stop-losses tight.

Short-Term Scenarios

Upside Scenario

If $0.0516 resistance breaks on an hourly close, a quick move to first target $0.0582 is possible (16% upside within 24 hours). Triggers: RSI crossing above 50 and BTC stabilization at $88,692. Upside invalidation: drop below $0.0505 invalidates the scenario. This scenario has low probability (35% score), but oversold RSI bounce could create scalp opportunities. Detailed charts can be viewed in CHZ Spot Analysis and CHZ Futures Analysis.

Downside Scenario

If $0.0505 support breaks, a quick drop to $0.0480 (4% downside in 24 hours), with main target $0.0418 (16% drop). Triggers: absence of MACD divergence and BTC dropping below $87,578. Invalidation: close above $0.0516. This scenario is more likely, aligned with current bearish indicators. Risk management is critical for short-term traders – limit position size to 1-2% of capital.

Bitcoin Correlation

BTC at $88,030 with -1.09% drop in downtrend; Supertrend bearish and rising dominance signal caution for altcoins. CHZ has high correlation to BTC (0.85+); if BTC loses $87,578 support, CHZ $0.0505 breakdown accelerates. Watch BTC resistances at $88,692-$89,595; if BTC breaks these, CHZ upside scenario strengthens. In the short term, BTC dropping below $86,591 pushes CHZ to $0.0480; traders should prioritize BTC levels.

Daily Summary and Watch Points

Today’s key watch points for CHZ: $0.0505 support and $0.0516 resistance. Sideways trend continues with bearish bias, with volatility expected in 24-48 hours. Volume spikes and RSI divergences are momentum shifters. Risk warning: Short-term trades carry high risk, do not neglect capital management – use tight stop-losses on every trade. No news flow; technical levels dominate. Real-time tracking recommended on CHZ Spot and Futures platforms. Key points: 1) $0.0516 breakout is bullish trigger, 2) Loss of $0.0505 accelerates bearish move, 3) BTC below $87k is red alert for CHZ.