NVIDIA Loses 210 USD: Pullback or Distribution Phase?NVIDIA CorporationBATS:NVDADomicChainaHello everyone, NVIDIA is entering a critical phase after dropping sharply from the 235 USD area to around 205 USD. On the H4 timeframe, price has fallen below both the short-term and long-term EMAs while losing the important 210 USD psychological level. This suggests that the strong uptrend that started in April is beginning to lose momentum. What stands out to me is the repeated selling pressure around 220–225 USD. Every recovery attempt into this zone has been rejected, indicating that institutional buyers are not yet willing to push NVDA back toward its recent highs. At the same time, short-term buying interest appears to be fading after months of AI-driven optimism. From a fundamental perspective, Reuters reported that investors are becoming more cautious toward AI-related stocks following earnings season. While NVIDIA remains the leader in AI chips, its rich valuation and extremely high expectations make the stock more vulnerable to profit-taking. Meanwhile, elevated US Treasury yields continue to weigh on high-growth technology names. Technically, the 200–205 USD area is now the most important support zone. This region also aligns with a previous consolidation area before NVIDIA's breakout toward 230 USD. If buyers successfully defend 200–205 USD, the stock could rebound toward 215 USD, followed by 220–225 USD as a test of overhead supply. However, if 200 USD breaks decisively, the bullish structure that has been in place since April would weaken considerably, opening the door toward 195 USD, or even 185–190 USD. At this stage, I do not view this as a long-term bearish reversal. However, the bullish momentum has clearly slowed. The 200 USD area will likely determine whether this is simply a correction within a broader uptrend or the beginning of a larger distribution phase.