QQQ at a Critical Pivot: Breakdown or Recovery?Invesco QQQ Trust Series IBATS:QQQTorik2xAfter an 8.7% pullback from its 52-week high, Invesco QQQ Trust (QQQ) is trading at a critical technical level where the next directional move could define the week's trend. The ETF remains below its 50-day moving average ($718), signaling that short-term momentum still favors sellers. However, price is holding comfortably above the 200-day moving average ($643), keeping the long-term bullish structure intact. This creates a high-probability decision zone rather than a trend-following environment. Key Levels Resistance • $692–700 – First resistance zone • $718 – 50-day Moving Average (major trend barrier) • $748 – 52-week high Support • $682 Immediate pivot • $670–675 Key demand zone • $643 – 200 day Moving Average • $620–630 Extreme downside scenario 🟢 Bullish Scenario Trigger Daily close above $700 Targets • TP1: $718 • TP2: $748 Invalidation Close below $682 A successful reclaim of resistance would indicate buyers are regaining momentum and could open the door for a retest of the yearly highs. 🔴 Bearish Scenario Trigger Daily close below $682 Targets • TP1: $670–675 • TP2: $658–660 • Extended: $643 Invalidation Daily close above $700 Failure to defend the current support zone would likely extend the correction toward the 200-day moving average. What I'm Watching This Week This week is likely to be driven by both technical levels and major catalysts, including earnings from several large cap technology companies. For me, $682 remains the key pivot. Above $700 → Bullish momentum improves. Below $682 → Bears remain in control. *Between these levels → Patience is the strategy. Trade confirmation not anticipation. This analysis reflects my personal market view and is not financial advice. #QQQ #Nasdaq100 #ETF #TechnicalAnalysis #TradingView #PriceAction #SwingTrading #Stocks #Bitget #rToken