CC Technical Analysis Jan 29

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

Short-Term Market Outlook

CC closed the day with strong momentum, up 4.65% from the 0.16$ level. Today’s range formed in the 0.15$-0.17$ band and volume was kept high at 60.71M$. RSI at 55.48 is in a neutral position, MACD supports upward momentum with a positive histogram, while Supertrend gives a bearish signal at the 0.19$ resistance. Price is holding above EMA20 (0.16$) and preserving the short-term uptrend. Within 24-48 hours, 0.1605$ support and 0.1637$ resistance are critical; although the overall trend is upward, there’s a risk of quick pullback due to the bearish Supertrend. In the MTF context, there are 6 strong levels in 1D/3D/1W: 2 supports/1 resistance in 1D, weighted 2 supports/3 resistances in 3D. News flow is calm, so technical levels dominate the focus.

Intraday Critical Levels

Nearby Support Zones

The most critical support is 0.1605$ (score: 87/100), a strong zone working with EMA20 and a key watch point for intraday low tests. For quick invalidation, 0.1524$ (score: 75/100) points to the previous day’s low. A drop below these levels could reverse momentum and trigger the 0.1143$ downside target. For scalpers, long bounces around 0.1605$ are possible, but stop-loss should be placed below 0.1595$.

Nearby Resistance Zones

First resistance is 0.1637$ (score: 75/100), above today’s range, with a quick move expected on break. Second zone is 0.1740$ (score: 61/100), an obstacle approaching Supertrend at 0.19$. These levels form intraday scalp zones; if it holds above 0.1637$, momentum increases, if it stays below, consolidation extends. Risk: Whipsaw possible in false breaks.

Momentum and Speed Analysis

Short-term momentum is supported by MACD’s bullish histogram, with RSI at 55 not close to overbought. However, Supertrend is bearish and BTC’s sideways effect may keep speed low. Volume is high, pulling volatility upward – expecting %5+ move in 24 hours. Since higher timeframes (3D) are resistance-weighted, momentum persistence depends on the 0.1637$ break. Speed analysis: In the up scenario, RSI can rise to 65+, downside to 45 possible. For scalping, watch MACD crossovers on 15m/1H charts, invalidation 10-15 pips out.

Short-Term Scenarios

Up Scenario

Close above 0.1637$ targets 0.1740$ first, then opens the path to Supertrend at 0.19$ and the 0.2108$ upside target (score 22) comes into view. Trigger: Volume increase + MACD line crossover. In this scenario, swing longs make sense with 8-12% upside potential in 24 hours, invalidation below 0.1605$. High risk: Correlated pullback with BTC drop.

Down Scenario

Break of 0.1605$ leads to a test of 0.1524$, opening downside to 0.1143$ (score 25). Trigger: RSI divergence + volume spike on downside. For intraday shorts, watch rejection at 0.1637$, stop above 0.1650$. This scenario aligns with bearish Supertrend, with 10% drop possible in 48 hours. Invalidation: Recovery above 0.1637$.

Bitcoin Correlation

BTC at 88,935$ level sideways with -0.32%, Supertrend bearish. CC is highly correlated with BTC; if BTC loses the 88,923$ support, pressure increases on CC at 0.1605$ and triggers 0.1524$ downside. Conversely, if BTC breaks 89,312$ resistance, CC’s 0.1637$ break accelerates. Main BTC watch levels: Support 88,923$/87,423$, Resistance 89,312$/90,693$. Dominance in uptrend calls for caution in altcoins, BTC stability supports CC momentum. Click for CC Spot Analysis and CC Futures Analysis.

Daily Summary and Watch Points

Today’s focus: 0.1605$ support and 0.1637$ resistance breaks. Up scenario: 0.1740$/0.2108$, down: 0.1524$/0.1143$. Momentum MACD bull but Supertrend caution. Watch BTC 88,923$. In short-term trades, 1-2% risk/position rule, stop-loss mandatory. High volatility in 24-48 hours, technicals dominant without news flow. Main watches: Volume, RSI divergence, BTC movement.