Nasdaq 100 Price Action Forecast: NAS100 Bears Eye $29,000 After Support Breaks

The NAS100 price forecast favors a bearish outlook following a shift in weekly and daily market structure. Price has broken below weekly support, bringing the 29,800–30,400 zone into focus as potential resistance.

The weekly bearish candlestick reaction suggests selling pressure, while the daily chart shows price trading below the 50 EMA. Together, these signals support the downside scenario, although a confirmed resistance retest would provide stronger evidence of bearish continuation.

The next development to monitor is how price responds around 29,800–30,400. A bearish rejection could support a move toward 29,000, while a confirmed breakout and successful retest above the zone would strengthen a recovery toward 31,290.

Key Takeaways

1. Weekly and daily market structure indicate a shift toward bearish conditions.
2. Former weekly support at 29,800–30,400 could now act as resistance.
3. Previous reactions highlight the importance of this weekly zone.
4. Daily price is trading below the 50 EMA, supporting the bearish bias.
5. A confirmed rejection at resistance would strengthen the downside scenario toward 29,000.
6. A bullish recovery requires a break above the relevant lower high and a successful reclaim of weekly resistance.
7. 31,290 remains a conditional upside target if bullish confirmation develops.

NAS100 Technical Analysis: What Does Price Action Show?

NAS100 Weekly Chart: Broken Support Becomes Potential Resistance

The weekly NAS100 chart shows a bearish structural shift following a break below an established support area.

The 29,800–30,400 zone now becomes an important test of seller control. When price breaks below support, a recovery toward that area can encounter selling pressure as former support begins acting as resistance.

Previous reactions around this weekly level reinforce its significance. However, historical respect for a zone does not guarantee that the next retest will hold.

Weekly Timeframe Price Action Analysis: Broken Support at 29,800–30,400 Becomes Potential Resistance.

The bearish candlestick reaction described on the weekly chart adds evidence of selling pressure. Its significance increases if the candle closes with a clear rejection and price subsequently moves lower.

Key weekly observations include:

1. A bearish shift in market structure.
2. A breakdown below former weekly support.
3. A potential resistance retest at 29,800–30,400.
4. Bearish candlestick behavior suggesting sellers are defending higher prices.

If the weekly candle is still developing, its eventual close remains important. An early rejection can change before the week ends.

NAS100 Daily Chart: Price Trades Below the 50 EMA

The daily chart supports the weekly bearish outlook, with price trading below the 50-period exponential moving average.

This positioning suggests weaker momentum, particularly when considered alongside bearish market structure. Trading below the moving average alone does not confirm that every subsequent move will be lower.

Daily Timeframe Price Action Analysis: Bearish Structure and Price Below the 50 EMA Support the Downside Bias.

During a recovery, the 50 EMA could provide an additional area of dynamic resistance. If it aligns with the weekly resistance zone when price retests, a bearish reaction there would add support to the continuation scenario.

The main confirmation remains price behavior: whether the recovery forms another lower high, produces a completed bearish rejection and follows through lower.

NAS100 Support and Resistance: Key Price Levels

A move into the resistance zone would not independently confirm a bullish reversal. Buyers would need to reclaim the area and demonstrate that it can hold as support.

NAS100 Price Forecast: Bearish and Bullish Scenarios

Bearish Scenario: Resistance Rejection Toward 29,000

Daily Timeframe Price Action Analysis: Potential Bearish Continuation Following a Retest of Weekly Resistance.

The bearish scenario depends on sellers defending 29,800–30,400 during a proper retest.

A recovery toward this zone would allow traders to assess whether former support is becoming resistance. A completed bearish rejection candle or bearish engulfing pattern would provide evidence that sellers are responding.

The signal becomes stronger if price follows through below the confirmation candle’s low instead of immediately recovering into the zone.

Bearish Confirmation Checklist:

1. Price returns to test the 29,800–30,400 resistance zone from below.
2. The recovery fails to establish a sustained break above resistance.
3. A completed bearish rejection or bearish engulfing candle forms.
4. Price follows through below the confirmation candle’s low.
5. Selling pressure extends toward the potential 29,000 target.

Rejection at the daily 50 EMA could provide additional confirmation if the moving average is near the retest area.

A sustained recovery above 30,400, followed by a successful support retest, would weaken this bearish setup.

Confirmation sequence: Resistance retest → bearish candle close → downward follow-through → potential move toward 29,000.

Bullish Scenario: Reclaiming Resistance Opens 31,290

Daily Timeframe Price Action Analysis: Conditional Bullish Recovery After a Structural Break and Resistance Reclaim.

The bullish alternative requires buyers to overcome the bearish structure and reclaim the broken weekly support zone.

The first structural requirement is a break above the relevant daily lower high. Buyers also need to establish price above 29,800–30,400, then defend the reclaimed area during a pullback.

A completed bullish rejection or bullish engulfing candle during the retest would suggest that buying interest is returning. Upward follow-through would strengthen the recovery scenario toward 31,290.

Bullish Confirmation Checklist:

1. Price breaks and closes above the relevant daily lower high.
2. Buyers reclaim the 29,800–30,400 weekly resistance zone.
3. A pullback tests the reclaimed zone from above.
4. A completed bullish confirmation candle shows the area holding as support.
5. Price follows through higher, supporting a potential move toward 31,290.
6. A sustained recovery above the daily 50 EMA would add evidence of improving momentum.

If the breakout fails and price falls back below the reclaimed zone, the bullish setup would weaken.

Confirmation sequence: Lower-high break and resistance reclaim → support retest → bullish candle close → upward follow-through.

Final Take: What to Watch Next for NAS100

The key question is whether 29,800–30,400 holds as resistance or is reclaimed as support.

Weekly and daily bearish structure, together with price below the daily 50 EMA, currently favor the downside scenario described in this analysis. A confirmed rejection at weekly resistance would strengthen the case for 29,000.

For the bullish alternative, buyers need to break the relevant lower high, reclaim the resistance zone and defend it during a retest. That sequence would bring 31,290 into focus.

Watch the retest. Wait for the candle close. Let price confirm the direction.

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