ETH Technical Analysis Jan 28

Today’s short-term outlook and critical levels to watch: ETH is consolidating around 3.024$ while upward momentum is maintained, but the resistance test is critical.

Short-Term Market Outlook

ETH is trading at the 3.024,57$ level on January 28, 2026, recording a slight 1.05% increase over the last 24 hours. The intraday range was between 2.983,67$ – 3.045,78$, with volume at a supportive 14.54 billion$. The short-term trend remains upward; the price is holding above EMA20 (2.968,87$), which is a bullish signal for intraday traders. RSI at 57.76 is in the neutral-bullish zone with no overbought risk. The MACD histogram is positive and maintaining the bullish crossover, though Supertrend is giving a bearish signal with the resistance line active at 3.154,53$. For the next 24-48 hours, focus on the 3.000$ psychological barrier and the resistances just above it. The market is in a consolidation phase within the overall uptrend; a sudden volume increase could trigger a breakout. Multi-timeframe (MTF) analysis identified 14 strong levels across 1D/3D/1W timeframes: 2 supports/3 resistances on 1D, 2S/2R on 3D, 2S/3R on 1W. These levels provide critical invalidation points for short-term scalp and swing setups. There are no significant news developments, emphasizing a technical-focused approach. For active traders, risk management is essential: Limit position size to 1-2% risk, keep stop-losses tight (e.g., 0.5-1% distance).

Intraday Critical Levels

Nearby Support Zones

The immediate support below is at 2.989,96$ (strength score 65/100), a strong zone near the intraday low. If this level breaks, watch 2.942,25$ (61/100) for quick invalidation; it aligns with EMA20 and offers quick rebound potential for scalp longs. A drop below 2.983$ within 24 hours could accelerate bearish momentum – tight stop below 2.989$.

Nearby Resistance Zones

The nearest resistance is at 3.029,62$ (93/100), a critical threshold at the intraday high test. A breakout would be followed by 3.089,91$ (75/100); this zone aligns with Supertrend resistance. A close above 3.030$ lights the green signal for quick upside momentum. For scalp shorts, look for rejection at 3.029$, though the uptrend bias supports longs.

Momentum and Velocity Analysis

Short-term momentum is bullish: MACD positive histogram is expanding, RSI stable above 57. Velocity analysis shows acceleration on 1H/4H charts; volume profile is concentrated at intraday highs. Despite Supertrend being bearish, holding above EMA20 preserves momentum. Over the next 24-48 hours, momentum will shape with the resistance test – positive divergence would accelerate upside. For scalping, the 2.990$-3.030$ zone is a high-liquidity area, ideal for quick entries/exits. Risk: Sudden BTC dump could reverse momentum, so monitor velocity indicators (e.g., Rate of Change).

Short-Term Scenarios

Upside Scenario

Break and close above 3.029,62$ (trigger: 1H candle close) targets 3.089$. If upside momentum is supported by MACD, 3.100$+ extension is possible. Quick scalp: Long entry at 2.990$, target 3.030$, stop 2.985$. Invalidation: Break below 2.989$. Probability 55%, from uptrend bias.

Downside Scenario

Close below 2.989,96$ (trigger: volume-backed break) leads to a quick drop to 2.942$. Supertrend bearish signal activates; scalp short: Entry at 3.020$, target 2.990$, stop 3.035$. Invalidation: Retake above 3.029$. Probability 45%, limited by BTC sideways effect.

Bitcoin Correlation

ETH is highly correlated with BTC (0.92); BTC sideways at 89.584$ calls for caution in ETH alts. BTC supports at 88.607$, 87.393$, 86.075$; resistances at 89.201$, 90.718$, 92.052$. BTC Supertrend bearish – below 89.200$ poses dump risk for ETH, above 90.000$ triggers ETH breakout. BTC dominance in bearish trend, though ETH shows relative strength; watch BTC key levels: Below 88.600$ pressures ETH to 2.950$.

Daily Summary and Watch Points

Watch today: 3.029$ resistance test, 2.990$ support hold. Volume increase signals breakout. Risk: Short-term trades involve high volatility; risk 1% of capital. For more, check ETH Spot Analysis and ETH Futures Analysis. Key points: 3.030$ close for upside scenario, 2.990$ break for downside. Stay active with tight risk management.