ENS Technical Analysis Jan 29

Today’s short-term outlook for ENS shows dominant bear signals. ENS, trading at $8.74, carries the risk of testing the $8.44 support.

Short-Term Market Outlook

ENS is trading at $8.74 as of January 29, 2026, and has experienced a -3.21% decline over the last 24 hours. The intraday range stayed between $8.70-$9.22, with volume at a moderate $12.68M level. The short-term trend is clearly downward; the price is positioned below the EMA20 ($8.92). RSI at 41.87 is in the neutral-bear zone, and MACD confirms bear momentum with a negative histogram. The Supertrend indicator points to a $9.29 resistance level, giving a bearish signal. Volatility is expected over the next 24-48 hours, but the overall pressure is downward. Multi-timeframe (MTF) analysis has identified 10 strong levels across 1D/3D/1W timeframes: 1 support/2 resistances on 1D, 1S/1R on 3D, and 2S/4R distribution on 1W. This indicates that resistances dominate in the short term and downside potential is high. For active traders, quick scalp opportunities are limited, and risk management is critically important.

Intraday Critical Levels

Nearby Support Zones

The nearest support is at $8.4400 (strength score: 67/100), a critical test point below intraday lows. The $8.6659 (65/100) level should be monitored for quick invalidation; a drop below this could trigger the $7.5914 downside target. Scalpers can look for a quick bounce around $8.44, but volume confirmation is essential.

Nearby Resistance Zones

The first resistance is at $8.7878 (75/100), just above the current price. A breakout opens $8.9043 (66/100), but $10.3695 (65/100) is further out. Testing $8.79 is the main trigger for intraday rallies; failure increases bear pressure.

Momentum and Velocity Analysis

Short-term momentum is bearish; the MACD histogram is expanding negatively, and RSI is in a down channel. Velocity analysis (momentum speed) shows downward acceleration, confirmed by Supertrend bearish flip. On the 4-hour chart, the downtrend line aligns with the $8.92 EMA. Momentum supported by declining volume is sensitive to sudden spikes. If momentum does not reset in the next 24 hours, a $8.44 test is likely. For scalping, monitor momentum divergences (around $8.70), but they are high-risk.

Short-Term Scenarios

Upside Scenario

A clear breakout above $8.7878 resistance (with volume increase) targets $8.9043, signaling short-term upside to $9.6209 (50 score). Trigger: Close above $8.79 + RSI above 50. Invalidation: Slip below $8.6659. This scenario is low probability (30%), requiring BTC stabilization.

Downside Scenario

If $8.6659 support breaks, $8.4400 will be tested, followed by the $7.5914 (22 score) downside target. Trigger: Break below $8.70 + MACD bearish cross. Invalidation: Reversal above $8.79. High probability (70%), with aggressive selling expected at intraday lows. Risk: Sudden news flow.

Bitcoin Correlation

BTC at $88,009 with a -2.11% decline is in a downtrend; main supports at $87,492, $86,591, $82,852. Resistances at $88,674, $89,595, $90,563. BTC Supertrend is bearish, creating high pressure on altcoins like ENS. If BTC slips below $87,492, ENS $8.44 test accelerates; stability above $88,674 offers ENS a $8.79 rally opportunity. Correlation coefficient is high (~0.85), so monitor BTC. Details for ENS Spot Analysis and ENS Futures Analysis.

Daily Summary and Monitoring Points

– Main monitoring: $8.7878 resistance and $8.4400 support.
– Momentum triggers: RSI crossing 50 / MACD reset.
– BTC levels: $87,492S / $88,674R.
– Risk management: Keep stop-losses tight ($0.05-0.10 range), position size 1-2% of capital.
– No news, stay technical-focused. Short-term trades are high-risk; capital preservation is priority. Today, the bear scenario dominates; longs should be cautious.