Nasdaq 100 index extends downward move as selloff intensifies and resistance caps rebound attempts

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Nasdaq 100 drops 1.52% to 29,367

Highlights

Janus Henderson and Centrifuge introduced JQQQ, a blockchain-based fund granting digital access to the Nasdaq-100 Index.
The fund operates on public blockchain infrastructure, combining traditional index exposure with digital-native accessibility for institutional and individual investors.
Nasdaq-100 Index trades under short- and medium-term selling pressure, with price forecast to range between 29,143 and 29,590 and momentum signals mixed.

Institutional access expands as blockchain fund launches amid selling

Janus Henderson and Centrifuge have launched JQQQ, a blockchain-native fund allowing digital access to the Nasdaq-100 Index through an issuer-sponsored strategy. By operating the fund on public blockchain infrastructure, according to the official announcement, the offering merges traditional investment management with emerging digital capabilities. This product launch may gradually enhance institutional and digital-native investor access to the index, though price action has remained under broader selling pressure.

Mixed momentum as price tests resistance amid trend divergence

Technical analysis points to NDX trading below the MA-20 and MA-50 on the H1 timeframe, while remaining notably above the MA-200 on the daily chart. The Ichimoku Kijun level is set at 29,394 and presents immediate resistance. Among momentum indicators, MACD and ADX reflect bullish conditions, whereas RSI, Stoch RSI, CCI, and Bull/Bear Power all indicate overbought levels and ongoing buyer dominance. The Awesome Oscillator does not provide additional support for the prevailing trend, and the session closed with a 59-point gap down and low volatility near the day's low, reflecting a divergence between trend-following and oscillator signals.

Downside risk prevails as range-bound trading persists

Over the short term, price is expected to fluctuate within the 29,143 to 29,590 range, marking a typical volatility band relative to current levels. The probability of an upside breakout remains low, while downside risk is elevated, making further declines the more likely scenario. To initiate a bullish move, price must close above immediate resistance at 29,394, whereas a drop below 29,143 would confirm a bearish breakout from the current range.

Viktoras Karapetjanc, expert at Traders Union, sees the launch of the JQQQ blockchain-native fund as a positive signal for the long-term institutional appeal of the Nasdaq 100. He notes that, while current price action reflects short-term pressure and range-bound conditions, the entry of major asset managers into the digital space is an encouraging development for structural demand. The analyst remains constructive on medium-term prospects but awaits confirmation of a breakout above 29,394 to shift decisively bullish. "New access routes like JQQQ support the long-term investment case, but for now, I would look for a close above immediate resistance before turning more optimistic on price action."

Earlier, analysts noted that heavy concentration in Nasdaq 100 leadership and skepticism around AI-linked capital spending were leaving the index vulnerable to further downside amid rising macro pressures. The recent launch of a blockchain-based Nasdaq-100 fund adds a structural development, but with price holding below key moving averages and immediate resistance at 29,394, traders should remain alert to the elevated risk of a confirmed bearish breakout below 29,143 in the coming sessions.

Source of Data: NDX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.