Nasdaq 100 rally as Big Tech leads the chargeNASDAQ 100 IndexNASDAQ_DLY:NDXinkicho_exnessNDX | 4H Technical Analysis — Apr 22, 2026 Geopolitical tensions and persistent inflation pressures awakened risk-aversion sentiment, weighing on growth expectations for much of the past several months. However, recent signals of potential easing in tensions and solid AI demand expectations have sparked a sharp risk-on rotation, with the Nasdaq 100 leading the recovery. NDX has broken decisively out of a well-defined descending channel that contained price action from late January through early April, marking a significant structural development. Price is currently trading around 26,480, with EMA21 (25,820) and EMA78 (25,034) now in a bullish cross and both EMAs trending higher. The decline from the February high near 26,200 accelerated through March, with price flushing down to a capitulation low around 23,000–23,100. The subsequent recovery has been sharp and impulsive, breaking through the descending channel’s upper bound, reclaiming 25,800 and 26,200 in rapid succession, and tagging the 26,750 resistance zone. Price is now consolidating just below 26,750 after the breakout surge. The channel breakout is confirmed, and both EMAs are rising with price holding above them, which is a constructive setup. That said, the move has been near-vertical, and the 26,750 level is proving to be immediate resistance. Key levels to watch: Resistance: 26,750 / 27,200 Support: 26,200 → 25,800 (EMA21) → 25,034 (EMA78) → 24,400 → 23,000 (channel low) Bear case: Rejection at 26,750 and a rollover below 26,200 would suggest the breakout is losing momentum. Closing below 25,800 and EMA21 would raise the risk of a full channel re-entry. Bull case: A clean breach and hold above 26,750 opens the path toward 27,200. EMA cross holding above 25,800 keeps the structural bias firmly bullish. Bias is bullish on the channel breakout, but a consolidation or shallow pullback to 26,200–25,800 before continuation would be a healthier setup.