NVIDIA Approaches Major Resistance — Can Bulls Extend the Rally?NVIDIA CorporationBATS:NVDAYong726Market Structure NVIDIA remains in a strong short-term bullish structure on the 4-hour chart. After recovering from the late-August pullback, price has continued to print higher highs and higher lows, reflecting sustained buying momentum. The latest rally has pushed price back toward a key resistance area where profit-taking has begun to emerge, but buyers still maintain overall control unless support is decisively broken. Market Sentiment - Moderately Bullish Market sentiment remains moderately bullish. Buyers continue to dominate the broader trend, although momentum has slowed slightly near recent highs as the market tests an important resistance zone. A confirmed breakout would reinforce bullish sentiment, while rejection could trigger a healthy short-term pullback. Bullish Scenario If NVIDIA holds above 230.00 and breaks above 236.00, buyers could extend the rally toward the next resistance around 240.00. A sustained breakout above that level would confirm continuation of the current uptrend and attract additional buying interest. Bearish Scenario If price falls below 230.00, short-term selling pressure may increase and drive NVIDIA toward the next support around 224.00. A decisive break below that level would suggest the recent rally is losing momentum and could trigger a deeper correction. ──────────────────── Market Outlook NVIDIA continues to trade within a well-defined bullish structure after an impressive recovery over recent weeks. Price is now testing an important resistance area where buyers and sellers are likely to compete aggressively. Whether bulls can maintain control above support will determine if the uptrend resumes or enters a consolidation phase. ──────────────────── Key Levels First Resistance: 236.00 Second Resistance: 240.00 First Support: 230.00 Second Support: 224.00 ──────────────────── Future Scenarios A sustained move above the First Resistance would suggest buyers remain firmly in control and could extend the advance toward the Second Resistance. However, if price breaks below the First Support, short-term bearish momentum may strengthen and expose the Second Support. ──────────────────── Event Risk NVIDIA may remain highly sensitive to upcoming U.S. economic data, Federal Reserve commentary, Treasury yield movements, overall Nasdaq sentiment, and AI-related industry developments. Company-specific news, semiconductor demand, and earnings expectations could also create increased volatility. However, price action remains the key indicator. If positive news cannot push price above the First Resistance, upside momentum may remain limited. Conversely, if NVIDIA breaks below the First Support despite supportive headlines, it would suggest sellers are gaining short-term control. ──────────────────── Please share your view below: Do you expect NVIDIA to break into new highs, or will resistance trigger a deeper pullback before the next rally? More market structure and key level updates will be shared regularly.