FX.co ★ FX-Perfact | XAG/USD, SILVER

SILVER H1 Timeframe: Based on the SILVER chart on the H1 timeframe, the overall price movement still reflects a fairly solid bullish structure, although a correction phase has been observed in the last few sessions after the price reached its latest peak. Since early April, the price has shown a consistent upward pattern, with higher highs and higher lows forming, indicating buyer dominance in controlling market direction. However, the selling pressure that emerged after testing the upper resistance level indicates that the market is entering a balancing phase between buying and selling forces. From a Moving Average perspective, the 100-day moving average (MA), marked by the blue line, is above the 200-day moving average (MA), and both have an upward slope. This reinforces the indication that the medium- to long-term trend remains bullish. The 100-day moving average (MA) serves as dynamic support, relatively close to the current price movement, while the 200-day moving average (MA) is located below, providing a stronger additional layer of support. The current price position around the 100-day moving average (MA) indicates that this area is crucial in determining whether the uptrend will continue or experience a deeper correction. Recent price movements indicate that after reaching the area around 83.02, there was a strong rejection, pushing the price back down. This area can be identified as a major short- to medium-term resistance. As long as the price is unable to break through and hold above this level, the potential for upward movement will tend to be limited and a consolidation phase is more likely.

On the other hand, the nearest support area is located in the range of 80.61 to 79.33, which is currently being tested by the price. This zone plays a crucial role because it previously served as a breakout area that drove further price increases. Furthermore, its proximity to the 100-day moving average (MA) strengthens its validity as dynamic support. If the price is able to hold above this area, there is still a chance for a rebound and continuation of the bullish trend. However, if selling pressure persists and the price breaks through this area decisively, the potential for a decline towards the next support area around 75.34 becomes significant. This area is a demand zone that previously served as the starting point for significant upward impulses, making it a significant horizontal support area. Further declines could even bring the price closer to the 200-day moving average (MA), which is lower and serves as the final boundary in maintaining the medium-term bullish structure. Further down, strong support lies in the 72.76 to 71.25 area, which is a historically important level in the previous price structure. A decline to this level would indicate a significant change in market sentiment and potentially shift the trend to bearish. Overall, although SILVER's primary trend remains bullish, supported by the 100- and 200-day moving averages (MAs), current conditions indicate weakening short-term momentum due to selling pressure in the resistance area. Price movement is likely entering a consolidation phase, and the reaction at the nearest support area will determine the next direction. If buyers are able to maintain dominance around the 100-day moving average and horizontal support, the uptrend has the potential to continue. Conversely, if these areas fail to hold, a deeper correction is likely before the market finds a new equilibrium.