NVIDIA perp futures (NVDAUSDT) have taken a sharp hit, sliding down to $176.08—a steep 6.13% drop over the last 24 hours. The selloff accelerated after aggressive downward momentum broke through prior support levels, pushing prices down to tap a 24-hour low of $175.87, far below the recent swing peak near $211.38.
​The pressure isn’t just organic technical exhaustion; institutional-scale leverage appears to be driving this leg lower. A major alert flagged a whale opening a $5.44M short position on NVDA futures, triggering panic selling and liquidations across high-leverage perpetual contracts. The trading volume surged past 286K NVDA tokens, generating over $50M in 24-hour turnover on Gate.
​Despite the aggressive breakdown, momentum indicators are flashing deep into extreme territory. The 4-hour RSI(6) has plummeted to an ultra-oversold 8.53, alongside the RSI(12) at 19.10. Meanwhile, the actual underlying equity closed higher at $188.71 (+2.62%), revealing a severe discount and divergence between spot shares and overnight perp pricing.
​Traders should exercise extreme caution here. Chasing shorts at these depressed RSI levels carries major squeeze risk if overnight liquidity snaps back toward mark price parity near $182–$188. However, until bulls reclaim structured higher lows above $183, downside volatility remains in complete control. Keep risk tight and eyes glued to volume spikes. $NVDA

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