US Nas 100
Short
Updated

USNAS100USD| AWAITING BREAKOUT FOR NEXT MOVE

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The price is currently trading within a descending channel, respecting its structure by rejecting the upper trendline and initiating a decline. This confirms the prevailing bearish momentum in the market.

To validate further downside movement, we are waiting for a break below the support zone at 21,615 - 21,415. A successful breakdown of this area will likely trigger a sharp drop towards 21,180 and eventually 20,880, aligning with the downward trend.

On the other hand, for an uptrend scenario to be confirmed, the price must break out of the descending channel and successfully cross above the key resistance zone. This would signal a shift in market structure, invalidating the bearish bias and activating a potential reversal.

Tendency Keys: 21,615 - 21,415
Resistance Line: 21,980, 22,120, 22,00.
Support Line: 21,615, 21,415, 21180
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snapshot

The price has broken out of the descending channel and stabilized above it, indicating a market structure shift.

Bearish Rejection: Strong resistance may lead to a price decline toward previous support or the demand zone.

Bullish Breakout: A successful breakout and stabilization above resistance could drive the price to new highs, as seller dominance weakens.

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