Nasdaq Forecast: Risks Build for Another Downturn US Tech 100 CFDFOREXCOM:NAS100FOREXcomIn line with the double top pattern formed between the December 2024 and February 2025 highs, which preceded a sharp downturn and dip-buying opportunity in April 2025, similar risks are now emerging for April 2026. The Nasdaq continues to consolidate below the October 2025 and January 2026 highs, forming a potential double top below the 26,300 level, while currently testing the 23,500 neckline. Bearish Scenario: A close below 23,500, combined with a weekly RSI trending below the neutral 50 level, would confirm the double top pattern and extend drawdown risks toward 22,400 and 22,200—levels aligned with the previous structure and potential dip-buying zones. Bullish Scenario: The index needs to reclaim 24,600 and 24,900 to restore bullish momentum toward 25,500 and 25,800. A break above these levels would open the path back toward 26,300 and the 27,000 zone, signaling a continuation of the long-term uptrend. Written by Razan Hilal, CMT