NVIDIA shares show remarkable growth, nearing a critical level at $200. This article discusses the current stock dynamics and their impact on the cryptocurrency market.
NVIDIA Stock Dynamics
In the last six months, NVIDIA's stock has surged over 51%. Currently trading near $181.60, it is attempting to break through a resistance level at $182–$183. If buyers can close the price above this range, it may open the way to $200.
Financial Results and Implications
NVIDIA's Q2 earnings report, released on August 28, showed revenues of $46.7 billion, up 56% from the same period last year. However, the absence of guidance on H20 chip sales to China leaves investors cautious, as it raises concerns over demand for infrastructure chips.
Crypto Market Reaction
So far, the crypto market has not mirrored NVIDIA's stock rise. Most AI-related tokens remained flat, with Livepeer (LPT) being the sole exception, gaining 32%. Analysts note a decrease in the short-term correlation between NVIDIA and Bitcoin, suggesting that these assets may move independently.
NVIDIA shares retain their upward trend, approaching the critical $183 level. The cryptocurrency market's subdued response indicates that further stock growth may depend on improving visibility into chip demand.
