Silver Price Analysis: XAG/USD gearing up for a rally towards $26?

Silver bulls gathering pace before the next push higher.
XAG/USD charted a falling wedge breakdown on the 1H chart.
100-HMA offers immediate resistance, with bullish RSI.

Dhwani Mehta FXStreet

Silver (XAG/USD) is probing the downward-sloping 100-hourly moving average (HMA) resistance at $24.45, awaiting a strong catalyst in the US Retail Sales data for a sustained break above the latter.

Acceptance above the latter will trigger a fresh rally towards the falling wedge pattern target aligned above the $26 mark.

The white metal confirmed a bearish wedge breakdown on the hourly chart in the US session last session and ever since has been consolidating the rebound from a drop to $23.60 levels.

On its way to $26 levels, the bulls could face stiff resistance at the October 12 high of $25.56.

The hourly Relative Strength Index (RSI) trades above the midline at 58.70, allowing more gains.

Alternatively, strong support is seen at $24.25, the confluence of the horizontal 200-HMA and bullish 21-HMA.

Below which the pattern resistance now support at $23.89 could be put to test.

XAG/USD: Hourly chart

XAG/USD: Additional levels

XAG/USD

Overview
Today last price	24.36
Today Daily Change	0.08
Today Daily Change %	0.33
Today daily open	24.28

Trends
Daily SMA20	24.07
Daily SMA50	25.88
Daily SMA100	22.81
Daily SMA200	19.56

Levels
Previous Daily High	24.31
Previous Daily Low	23.57
Previous Weekly High	25.18
Previous Weekly Low	22.88
Previous Monthly High	28.9
Previous Monthly Low	21.66
Daily Fibonacci 38.2%	24.03
Daily Fibonacci 61.8%	23.85
Daily Pivot Point S1	23.79
Daily Pivot Point S2	23.31
Daily Pivot Point S3	23.05
Daily Pivot Point R1	24.53
Daily Pivot Point R2	24.79
Daily Pivot Point R3	25.28

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.