NEW IDEA FOR NASDAQ100

The Nasdaq 100 index, which includes 100 of the largest technology companies in the United States, is considered one of the most important indices in the global stock market. In this article, we will analyze the technical analysis of this index and consider a scenario in which the price could decline to the support of the channel floor at 19,420.0 if the key resistance at 21,418.4 holds.
The scenario ahead
In technical analysis, support and resistance levels play a decisive role in predicting future price movements. Here, we will consider a scenario in which the price could decline to the support of the channel floor at 19,420.0 if the resistance at 21,418.4 holds.

1. Holding the resistance at 21,418.4
If the price fails to break the resistance at 21,418.4 and remains below this level, it indicates a continuation of the downtrend. This scenario seems likely given the current selling pressure in the market.

2. Moving towards support at 19,420.0
If the resistance holds, the price is likely to decline towards the channel floor support at 19,420.0. This level is considered a strong support area that may trigger a price reversal or temporary consolidation.