Usman Salis
NVIDIA's stock has been on quite a ride lately, climbing to impressive heights before hitting some turbulence. After reaching peaks above $183, the stock has cooled off and is now trading around $171. This pullback has traders and investors wondering where the stock might find its footing and whether we'll see a bounce or further decline to key support zones.
NVDA Price Shows Signs of Correction
After an incredible run through the summer months, NVIDIA shares are taking a breather. The stock has dropped from its high of $183.34 and is now sitting around $171.29, with selling pressure testing the shorter-term support areas.
Trader @Liathetrader shared his perspective on X, saying: "NVDA looks like it's going to visit neighbors on the lower floors. My buy levels 148/132 if we get there. If not, then not." This straightforward approach highlights two important support levels that could shape where NVDA heads next.
Here's what traders are watching:
- Current price: $171.29 (+0.30% daily)
- Resistance zone: $179–$183 (recent highs)
- Support 1: $148.40 (solid historical level)
- Support 2: $132.29 (major buying zone)
- RSI: 42.25 (showing momentum is cooling off)
The stock is hanging around its 50-day moving average right now, while the 200-day moving average at $138.98 could act as a stronger safety net if things get worse.
NVDA Price Outlook: Dip or Opportunity?
Even with the recent drop, many traders see pullbacks in growth stocks like NVIDIA as normal and healthy rather than signs of trouble. A bounce back above $171 could send the stock toward $180–$183 again. But if the selling continues, those $148 and $132 levels might become great entry points for investors thinking long-term.
NVIDIA has reached a make-or-break moment after pulling back from its highs. With momentum indicators cooling and key support levels getting closer, traders are split between waiting for bigger dips and jumping in early.
Usman Salis
