Silver Price Analysis: XAG/USD hovers around $21.70s below the 200-DMA

XAG/USD clings to Wednesday’s gains of 0.36%, despite overall US Dollar strength.
Silver dropped below the 200-day EMAs after reaching a daily high of $22.37.
XAG/USD Price Analysis: Silver remains downward biased.

Christian Borjon Valencia FXStreet

Silver price retraced some of its earlier gains after hitting a daily high of $22.37; a slight improvement in market sentiment strengthened the US Dollar (USD). Therefore, the XAG/USD is trading at $21.75, above its opening price by 0.36%, below the 200-day Exponential Moving Average (EMA).

XAG/USD Price action

After reaching a daily high, the XAG/USD retreated from levels around $22.30s and cleared the confluence of the 50, 100, and 200-day EMAs at around $21.79-86. Therefore, the bearish bias remains intact, as the XAG/USD is set to achieve a daily close below the 200-day EMA.

Although oscillators shifted bullish, price action is the leading indicator. The Relative Strength Index (RSI) turned flat in bullish territory, while the Rate of Change (RoC) portrays buying pressure is waning. Therefore, the XAG/USD would remain trading sideways in the near term.

For a bearish resumption, the XAG/USD needs to crack the March 14 low of $21.50. A breach of the latter will expose the February 17 daily low at $21.18, followed by the November 28 swing low at 20.87. Once those two areas are reclaimed, the YTD low would be for grabs.

In an alternate scenario, the XAG/USD first resistance would be the confluence of the 200/100/50-day EMAs, around $21.79-86. Once buyers reclaim that area, the $22.00 figure would be up for grabs, before testing the weekly high of $22.37.

XAG/USD Daily chart

XAG/USD Technical levels

XAG/USD

Overview
Today last price	21.78
Today Daily Change	0.08
Today Daily Change %	0.37
Today daily open	21.7

Trends
Daily SMA20	21.11
Daily SMA50	22.43
Daily SMA100	22.25
Daily SMA200	20.94

Levels
Previous Daily High	21.98
Previous Daily Low	21.48
Previous Weekly High	21.31
Previous Weekly Low	19.9
Previous Monthly High	24.64
Previous Monthly Low	20.42
Daily Fibonacci 38.2%	21.67
Daily Fibonacci 61.8%	21.78
Daily Pivot Point S1	21.46
Daily Pivot Point S2	21.22
Daily Pivot Point S3	20.96
Daily Pivot Point R1	21.96
Daily Pivot Point R2	22.22
Daily Pivot Point R3	22.46

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD: Bears retain control below 1.1780-1.1770 confluence breakpoint

The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades just above mid-1.1700s, well within striking distance of a nearly one-month low set the previous day.

GBP/USD seems vulnerable near one-month low vs. USD as traders await US data

The GBP/USD pair prolongs its weekly downtrend for the fifth consecutive day on Friday and slides back closer to a nearly one-month low, touched the previous day. Spot prices trade below mid-1.3400s during the Asian session on Friday and seem vulnerable to slide further as traders now look to important US macro data for a fresh impetus.

Gold eyes next breakout on US GDP, PCE inflation data

Gold sticks to recent gains around the $5,000-mark early Friday, biding time before the high-impact US macro events. The focus is now on the US fourth-quarter Gross Domestic Product, core Personal Consumption Expenditures Price Index and the Supreme Court’s ruling on President Donald Trump’s tariffs.

Bitcoin, Ethereum and Ripple remain range-bound as breakdown risks rise

Bitcoin, Ethereum, and Ripple are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market. BTC rebounded from key support, and ETH is nearing the lower consolidation boundary, while XRP is holding at its lower trendline boundary.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.