COMP Technical Analysis Jan 29

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

Short-Term Market Outlook

COMP is trading at the $22.48 level as of 17:45 UTC on January 29, 2026, and has experienced a %5.78 decline in the last 24 hours. The daily range occurred between $21.73 – $24.28, while volume was at the previous $18.28M level but momentum is weak. The price continues to stay below EMA20 ($23.59$), reinforcing the short-term bearish outlook. The Supertrend indicator is giving a bearish signal and points to $23.89 as resistance. The overall trend is downward; 12 strong levels were detected in 1D, 3D, and 1W timeframes (1D: 2S/2R, 3D: 2S/1R, 1W: 2S/3R). There is a high-risk environment for the next 24-48 hours, scalpers and intraday traders should watch for sudden invalidation points. RSI at 32.31 is approaching the oversold region but MACD sustains the bearish pressure with a negative histogram. No news flow, a technical-focused approach is essential.

Intraday Critical Levels

Nearby Support Zones

Instant supports: $22.42 (score: 74/100) – This is the most critical intraday support; a drop below here could trigger a quick slide to $21.74 (score: 69/100). Downside momentum accelerates with invalidation below $22.42, and $20.02 could be targeted within 24 hours. For scalpers, the $22.42-$22.48 range is a watch zone without a stop-loss recommendation.

Nearby Resistance Zones

Instant resistance points: $23.09 (score: 65/100) as the first barrier, followed by Supertrend resistance at $23.89 and $24.08 (score: 70/100). Breaking above these opens $25.64 (score: 70/100) but remains difficult as long as below bearish Supertrend. Intraday breakout requires a close above $24.08, otherwise fakeout risk is high. Tight levels: $23.09 and $24.08 are main watch points.

Momentum and Speed Analysis

Short-term momentum is bearish; MACD negative histogram is widening, RSI at 32.31 gives oversold signal but no divergence. With Supertrend bearish and below EMA20, speed is downward. Volume is low at $18.28M with weak participation – sudden volume spikes could change momentum. On the 4-hour chart, downtrend dominates, and $22.42 could be tested on the 1-hour. Speed analysis: Downside speed is high with %5+ daily change, upside requires volume. For risk managers, max position size %1-2, quick invalidation below $22.42 or above $23.89.

Short-Term Scenarios

Upside Scenario

Bullish scenario: If price holds above $23.09 and breaks Supertrend resistance at $23.89, movement toward $24.84 (score:45) target begins with a $24.08 close. Trigger: RSI 40+ divergence and volume increase. %10 upside potential in 24-48 hours, valid if BTC is stable. Invalidation: Close below $22.42. Long bias for swing traders but tight stop at $22.90.

Downside Scenario

Bearish scenario: If $22.42 support breaks, quick drop to $21.74 targets $20.02 (score:22). Trigger: MACD histogram deepening and BTC below 84.3k. %10+ downside risk is high, short bias for scalpers. Invalidation: Close above $23.89. Risk: Oversold RSI could rebound, max position %1.

Bitcoin Correlation

BTC at $84,802 level with %5.74 decline, Supertrend bearish – creating pressure on altcoins. COMP is highly correlated with BTC; if BTC breaks $84,330 support, COMP drops to $21.74, below $83,252 triggers panic selling. Conversely, if BTC rebounds to $85,740 resistance, COMP tests $23.89. Key BTC levels: Support $84,330/$83,252, Resistance $85,740/$87,397. BTC dominance increase is against COMP, BTC-focused monitoring is essential for 24 hours. Click for COMP Spot Analysis and COMP Futures Analysis.

Daily Summary and Watch Points

Today’s main watch: $22.42 support and $23.89/$24.08 resistance. Bearish bias dominates, BTC movements are decisive. Key points: 1) Short scalps on $22.42 break, 2) Long attempt on $23.89 breakout, 3) Wait for RSI divergence, 4) Volume spikes change momentum. Short-term trades are high risk – risk %1-2 of capital, use quick stops. 24-48 hour outlook: Downside favored but oversold rebound possible. Stay tuned for continuous updates.