Nasdaq 100 1D Technical Analysis: Can 28,187 Support Hold?

Nasdaq 100 spot, Time frame: Daily, Source: Tradinview

Price action remains locked inside a descending channel, and the structure is textbook: lower highs stacking neatly along the upper trendline, rejection after rejection. Every attempt to bounce has run straight into channel resistance and failed. Bears are still setting the tone here. 28,187 Support Becomes Critical

The 28,187 level is emerging as the market's key support zone. Price has tested this area multiple times throughout July, and each reaction has attracted buyers. Repeated interaction at this level highlights its importance as a major structural floor.

Recent Bounce Lacks Strong Follow-Through

After briefly breaking below support, price rebounded from the lower boundary of the channel and reclaimed 28,187. However, the recovery remains modest, with the index still trading beneath both the descending trendline and the major value area overhead.

29,502 Remains a Key Resistance Pivot

The 29,502 level, which aligns with the Point of Control on the volume profile, continues to act as a major resistance zone. The largest concentration of trading activity is clustered around this level, reinforcing it as a significant barrier to any sustained recovery.

Volume Profile Highlights Overhead Supply

Most of the volume is concentrated between 29,200 and 29,800, indicating a strong area of market acceptance above current price. Until the index can re-enter this region, rallies may continue to face resistance.

RSI Remains Below Neutral

The RSI is holding around 44, remaining below the neutral 50 level despite the recent bounce. This suggests momentum has stabilized but remains relatively weak, consistent with the broader corrective structure.