NVDA: Breakout or Pullback?Tesla, Inc.BATS:TSLAledora037NVIDIA is trading right beneath the $212 resistance zone after reclaiming support from the $200 demand area and filling a recent imbalance. Price action remains constructive, but the market is entering one of the most important macro weeks of the quarter, which could determine whether this recovery extends toward new highs or turns into another liquidity trap. From a technical perspective, two scenarios remain on the table. A decisive daily close above $212 would confirm bullish continuation and potentially open the path toward the $230-$240 region. However, failure to hold the current structure could trigger a retracement back into the $194 fair value gap, with a deeper correction toward $164 remaining possible if broader risk sentiment deteriorates. The biggest catalyst this week is Wednesday's FOMC meeting, the first under Fed Chair Kevin Warsh. Markets expect rates to remain unchanged, but traders will closely monitor his comments on inflation, employment, and the future path of monetary policy. Retail Sales data and key earnings from Accenture and Kroger will also provide fresh insight into consumer strength and corporate demand. For AI and semiconductor stocks like NVIDIA, a dovish Fed tone could reignite risk appetite and fuel another leg higher. A more hawkish stance, however, may pressure high-growth names and send price back into lower support zones. I'm watching $212 as the key trigger level. The market has shown resilience, but macro events this week are likely to decide whether NVDA breaks into price discovery again or offers a deeper reset before the next expansion phase. What I'm Watching: Bullish trigger: Daily close above $212. First support: $200 demand zone. Major support: $194 FVG. Bearish invalidation: Loss of $194 opens room toward $164. Will Fed Week be the catalyst that sends NVDA toward new highs, or is the market setting up for one more shakeout before the next rally?