The movement of the Nasdaq on the 1-hour time frame shows increasingly clear reversal signals after the price broke below the bullish channel’s low. This breakdown indicates the end of the previous uptrend phase, as evidenced by the formation of a lower low that signals a shift in control from buyers to sellers. The failure of the price to move back into the channel reinforces the indication that selling pressure is beginning to take over, making further declines towards the nearest support area more likely.
From a technical perspective, bearish signals gain additional confirmation. The ZigZag indicator reveals a clear downward structure following the break low, while the Moving Average (MA) is starting to trend downwards, acting as dynamics resistance. Simultaneously, the MACD is in the negative zone with a widening histogram distance, reflecting strengthening selling momentum. This combination of price structure and indicators supports the potential for the Nasdaq to continue its decline in the short term as long as prices remain below the nearest resistance.
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On the 15-minute chart, the Nasdaq is still within a bearish channel, indicating that selling pressure remains strong. Both the Moving Average and ZigZag are trending down, confirming a solid downward structure, while the CCI is sharply falling from the overbought area, signaling a waning rebound momentum. This combination of technical signals opens the opportunity for the Nasdaq to further decline and test the support level at 24,670 in the short term.
Technical Reference: buy above 25,090
Potential Take Profit 1: 25,008
Potential Take Profit 2: 25,090
Potential Stop Loss 1: 24,748
Potential Stop Loss 2: 24,670
