According to Mihir (@RhythmicAnalyst), the NASDAQ Index is showing signs of recovery after a trend breakdown identified by the third method of technical analysis. The analysis highlights support levels established since January 2023, with the index currently moving above key support after a recent downtrend. This recovery phase is critical for traders, as sustained upward movement could signal renewed risk appetite, potentially leading to increased inflows into correlated cryptocurrency markets, especially Bitcoin and Ethereum, which often respond to tech sector sentiment (Source: Mihir via Twitter, May 12, 2025).