NVDA Stock at Key Support: Can It Spark a Nasdaq Rally?

NVIDIA (NVDA) is testing critical support levels after pulling back from recent highs. As one of the Nasdaq's most influential stocks, its next move could determine whether the tech-heavy index accelerates or stalls.

What the Chart Shows

Trader @ShardiB2 recently tweeted, "Wait until $NVDA starts picking up — then the Naz will really roar!" — highlighting just how closely the market is watching this chip giant.

Looking at the 4-hour chart, NVDA got rejected at $196 and has since retreated into a key support zone between $181-$183. This area lines up with both the 20-day and 50-day moving averages, making it a natural spot where buyers might step in. Short-term resistance sits at $185.9 and $187.8, levels the stock will need to reclaim to regain momentum.

Volume patterns show sellers have been in control lately, though the activity isn't extreme — suggesting consolidation rather than panic. The RSI has cooled to around 44, approaching oversold territory but not quite there yet. Meanwhile, the longer-term moving averages remain well below current prices, confirming the broader uptrend is still intact despite this pullback.

Why NVDA Matters for the Nasdaq

NVIDIA isn't just another tech stock — it's become the face of the AI boom and a barometer for risk appetite in the market. Demand for its AI and data center chips continues to fuel its long-term growth story, while traders increasingly view it as a signal for where the Nasdaq is heading next. With inflation cooling and yields stabilizing, conditions could be ripe for growth stocks like NVDA to bounce back.

Key support levels to watch:

• $181-$183: Current battle zone
• $179: Next support if current level breaks
• $173: Deeper support with stronger buying interest

Resistance targets on a recovery:

• $187.8: First hurdle
• $196: Major resistance to reclaim
• $200+: Opens on a breakout above $196

If NVDA holds above $181, we could see a push back toward $187 and potentially a retest of $196. A clean break above that level might ignite the move toward $200 that bulls are hoping for. On the flip side, a close below $179 would likely trigger deeper selling toward $173 or even $153, where more substantial buying interest waits.