NAS100 Downside Crash Looms After Rejection at Key Resistance

NAS100 Analysis – June 22

A downside crash for NAS100 appears imminent following a rejection at the key resistance level of $22,140. The index recently faced strong resistance around this level, which coincides with a previously tested supply zone. Price action is beginning to decline after failing to sustain momentum above the 9-day Simple Moving Average (SMA), currently near $21,760. The Relative Strength Index (RSI) has cooled to approximately 56.23, indicating a weakening bullish momentum as it moves further away from overbought conditions. The index has also formed a lower high compared to its recent peak, signaling potential bearish sentiment and a fading bullish grip.

NAS100 Key Levels

Resistance Levels: $22,140, $23,000, $24,050
Support Levels: $21,400, $20,360, $18,320

NAS100 Long-Term Trend: Bearish

Price action has been unable to establish new highs above the $22,140–$22,400 zone, instead forming a double-top pattern with diminishing follow-through. This technical signal, combined with the failure to maintain the support level at $21,400, suggests a potential breakdown is underway. Candlestick formations featuring long upper wicks highlight strong selling pressure at higher levels. If this supply pressure continues, the current structure points toward a bearish continuation, especially after repeated failures to overcome this resistance cluster.

Looking ahead, a decisive break below $21,400 could pave the way toward the $21,000 level. Sustained bearish momentum may drive the index further down to the more substantial demand zone near $20,360, which coincides with a historical consolidation area and may offer temporary support. However, if overall market sentiment continues to deteriorate, the NAS100 could decline further, with $18,320 emerging as a more distant yet realistic target. Overall, the technical indicators and price action signal a bearish outlook in the short to medium term unless buyers reclaim the $22,140 zone.

NAS100 Short-Term Trend: Bearish

The NAS100 has confirmed a bearish structural shift following a clear Change of Character (CHOCH) below the $21,440 level. Price experienced a strong rejection from the $22,140 supply zone and has since formed lower highs, consolidating beneath the 9-period SMA.

The RSI has dropped below the midpoint to 47.83, further suggesting a decline in bullish momentum. With sellers actively defending resistance and the structure shifting downward, price is likely to revisit the $21,000 level, and potentially drop further toward $20,360. At this point, traders may look to forex signals for timely market entries and exits as the bearish pressure intensifies.

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