Silver (XAGUSD) Price: A Bearish Breakout May Reduce Price to $22.15

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Existing community of 70,000+ traders

Unlocks access to the leading crypto trading analysis, signals and trading tools

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

World class development team backed by Quant developers and VC investors

BUY D2T NOW

WHITEPAPER

D2T TELEGRAM

Sellers may dominate Silver market soon

SILVER Price Analysis – 12 January

When bulls defend the $23.43 price level, silver’s price may rise and break through the $23.95 resistance level, which might push silver to the $24.33 and $24.66 resistance levels.

XAGUSD Market

Key Levels:

Resistance levels: $23.95, $24.33, $24.66

Support levels: $23.43, $22.93, $22.15

XAGUSD Long-term trend: Ranging

XAGUSD (Silver) is ranging on the long-term outlook. The purchasers lose momentum when Silver price reached a high of $24.33 level last two weeks. The just-mentioned level was unable to be penetrated. The sellers tried to push the price down below $23.43 but the buyers were opposing the movement. The white metal started a ranging movement within the $23.95 and $23.43 levels.

The two EMAs are close to each other, and Silver price retains its trading around the 9-periods EMA and the 21-period EMA. The Relative Strength Index period 14 is at 57 levels with the signal lines pointing upside which connotes buy signaling. When bulls defend the $23.43 price level, silver’s price may rise and break through the $23.95 resistance level, which might push silver to the $24.33 and $24.66 resistance levels. An increase in sellers’ pressure may lower the price below the $23.43 support level and this may cause it to go as low as $22.93 and $22.15.

XAGUSD Medium-term Trend: ranging

XAGUSD is on the ranging movement on the 4-hour chart. When the buyers’ momentum was very strong few weeks ago, the metal rose to the resistance level of $23.95. It pulled back to the support level of $23.43. The bulls defended the just-mentioned level and the resistance level of $23.95 was retested. Since then, the price has been fluctuating between $23.95 and $23.43 levels.

The price of silver is currently hovering over both 9-period and 21-period EMAs. The signal lines on the relative strength index period 14 are at the 54 levels pointing down to indicate a sell.

You can purchase Lucky Block here. Buy LBLOCK