GLM Technical Analysis Jan 29

Intraday fluctuations dominate GLM; $0.2243 support critical, weakness expected at $0.2313 resistance. Careful momentum tracking essential.

Short-Term Market Outlook

GLM is trading at $0.23 as of January 29, 2026, showing a negative picture with a -3.44% drop over the last 24 hours. The daily range is squeezed in the $0.23-$0.24 band, with volume remaining at moderate levels of $5.66M. Short-term indicators are giving dominant bearish signals: RSI at 44.06 in the neutral-bearish zone, MACD confirming selling pressure with a negative histogram. Supertrend is bearish and pointing to the $0.24 resistance line. Price continues to stay below EMA20 ($0.23), reinforcing the intraday downtrend. The overall outlook is cautious for the next 24-48 hours; sudden upside breakouts have low probability, while downside tests are more likely. In MTF context, 14 strong levels detected across 1D/3D/1W timeframes (1D: 3S/2R, 3D:1S/2R, 1W:3S/3R), increasing volatility potential. News flow is calm, but BTC correlation will be decisive.

Intraday Critical Levels

Nearby Support Zones

Immediate support at $0.2243 (strength score 64/100), critical as an intraday hold point. A close below $0.2243 for quick invalidation would accelerate toward $0.2131 (61/100). Deeper drops have $0.1956 as a downside target on radar, but priority in the 24-hour frame is the $0.2243 test.

Nearby Resistance Zones

First resistance at $0.2313 (67/100) is the tightest zone, where Supertrend and EMA20 intersect. Follow $0.2371 (63/100) for breakout, upper target $0.2697 (31). $0.3156 (65/100) is distant for swings, intraday focus on $0.2313-$0.2371 band. These levels form quick scalp zones, breakouts should be confirmed with volume.

Momentum and Velocity Analysis

Short-term momentum bearish: MACD histogram expanding negatively, RSI at 44 not yet approaching oversold. Velocity indicators (Supertrend) giving sell signals, price action resistant to retrials above $0.24. Intraday velocity downside-focused; acceleration around $0.2243 increases downside momentum. In upside scenario, RSI above 50 and MACD zero-line crossover would be triggers. With volume low, fakeout risk high; scalpers should confirm pivots on 5-15 minute charts. Risk: Sudden spikes may be short-lived, stop-losses positioned 0.5-1% beyond levels.

Short-Term Scenarios

Upside Scenario

Close above $0.2313 activates bullish: First target $0.2371, extends to $0.2697 if momentum builds. Triggers: RSI 50+, volume spike, and BTC above $88k. Invalidation: Close below $0.2243 cancels upside. Low probability (%30), dependent on BTC support.

Downside Scenario

Break below $0.2243 is main bearish trigger: Test $0.2131, deeper at $0.1956. No MACD divergence, Supertrend supports sell. Trigger: BTC below $87k. Invalidation: Retrial above $0.2313. High probability (%60), ideal downside for intraday scalps.

Bitcoin Correlation

BTC at $87,732 with -2.56% drop in downtrend, Supertrend bearish. GLM highly correlated with BTC; BTC break below $87,369 support loses GLM $0.2243, drop to $86,586 accelerates $0.2131. Conversely, BTC break above $88,660 triggers GLM upside scenario. BTC dominance rise pressures altcoins, watch deep support at $82,852. Follow links for GLM Spot Analysis and GLM Futures Analysis.

Daily Summary and Monitoring Points

– Key watch: $0.2243 support test, break fuels bearish momentum.
– Resistance challenge: $0.2313-$0.2371 band.
– Momentum shift: RSI 50 or MACD crossover.
– BTC trigger: Below $87,369 = GLM downside, above $88,660 = relief rally.
– Risk management: Position size 1-2% capital, keep invalidations tight. Short-term trading involves high volatility, losses can erode capital quickly. 24-48 hour focus: Downtrend dominant, strong evidence required for upside.