Nasdaq 100 Approaching Breakout Zone! | Key Levels to Watch

The Nasdaq 100 has been on a steady bullish trend since mid-April, respecting a beautiful ascending trendline shown in blue. As of now, the price is sitting at 21,905, right under a critical resistance zone around 21,920–21,950.

Here are the key levels marked on the chart:

🔹 Resistance:

21,920–21,950 (current testing zone)

21,139.82 (previous local high)


🔹 Support Zones:

20,599.44

20,056.10

19,889.50

18,161.32 (major swing low)


🔹 Trendline Support:
Starting from April lows, this trendline continues to hold as dynamic support, adding to the bullish momentum.


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📊 Price Action Insights:

✅ Bullish structure with higher highs and higher lows
✅ Strong bullish candles leading into resistance
✅ Consolidation near the highs — potential breakout brewing
✅ Price staying above the 20,599 and 20,056 key support zones


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🧨 Potential Trade Setups:

📈 Bullish Breakout Scenario:
A clean break and close above 21,950 on the 4H could trigger a bullish run toward 22,200+.

📉 Rejection Scenario:
Failure to break above this zone might lead to a retest of 20,599.44 or the trendline support for a better entry.


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📌 Key Events to Watch:
🇺🇸 US Market Holidays and Data Releases (circled in red) could add volatility — stay alert!


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🗣️ What’s Your Bias?
🔽 Do you think Nasdaq will break higher or retrace back to the trendline support?

💬 Drop your analysis below! Let’s discuss 💬
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