Usman Salis
NASDAQ is clawing back ground after a steep selloff, pushing toward the 24,900-25,000 resistance zone on the hourly chart. The rebound has been unfolding inside a rising reaction channel, giving price a chance to stabilize near 24,900. That said, a descending trendline still hangs overhead, which means what we're watching right now looks more like a bounce than a breakout.
Key NASDAQ Price Levels: Support at 24,634, Resistance Stacked to 25,415
The technical structure is layered with actionable levels. Resistance clusters sit near 24,943 and 25,011, with heavier barriers higher up around 25,179 and 25,415. On the downside, initial support lands at roughly 24,748 and 24,634, and deeper floors appear near 24,526 and 24,320.
The Volume Profile Point of Control near 24,784 stands out as a concentrated liquidity zone where price keeps gravitating. NASDAQ Price Analysis: Index Tests Key 25,000 Resistance After Rebound From 24,500 flagged how rallies into the 25,000 area have repeatedly run into heavy selling pressure.
RSI at 63 and Bullish SAR Signal Short-Term Recovery, Not a Trend Reversal
Momentum indicators are tipping toward buyers in the short run. RSI is sitting around 63, which shows positive momentum without flashing overbought warnings. Bollinger Bands confirm price has pushed above the midline, a classic short-term recovery signal. Parabolic SAR dots are now printing below the candles, reinforcing the near-term bullish bias. Volume during the rebound has been moderate, though the latest candles are showing a pickup in buying delta. NASDAQ Rebounds to 24,800 but Bulls Still Need to Clear 24,900 mapped a similar setup where improving momentum still hit a wall at resistance.
The bigger picture remains cautious. Oil prices, geopolitical friction, and rate expectations are all weighing on tech sentiment, keeping equity positioning defensive even as short-term charts brighten up. NASDAQ US100 Finds Footing Near 24,800 After Bouncing From 24,600 Low made the same point: macro headwinds and a stubborn 25,000 ceiling can cap even well-formed rebounds.
Usman Salis
