NAS100 holds EMA20 at 30248 as 4H/1D uptrend stays intact

NAS100 is sitting at the top of a confirmed multi-week uptrend, digesting last week's 1% gain at levels where resistance meets prior support.

The index is barely changed on the day, slipping just 0.13% after printing a 30387 session high before sellers capped the rally near the 30391 resistance cluster. There is no headline catalyst driving the pullback — this looks like routine profit-taking near a technically significant supply zone rather than a change in character.

The structural read stays constructive. Price holds above EMA20 at 30247.98, EMA50 at 30070.26, and EMA200 at 29666.99, with all three stacked in bullish order. The 4H and daily trends remain up, even as the 1H has gone sideways and trend alignment reads mixed across timeframes. RSI is neutral, leaving headroom for the next leg, and volatility is running at normal levels — not the kind of elevated regime that typically precedes a reversal. Prior context confirms the index has broken through multiple resistance levels over the past seven days, with 30076.3 now comfortably in the rear-view mirror. The nearest base of support sits at 30224.60.

We look to buy dips into the 30225–30248 zone where EMA20 and the nearest support converge. The invalidation is a daily close below the session low at 30149.25; below there, the short-term momentum case unravels and we stand aside.