Silver (XAGUSD) Price Is Ranging within $24.33 and $23.43 Levels
Login

Silver (XAGUSD) Price Is Ranging within $24.33 and $23.43 Levels

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sellers may dominate Silver market soon

SILVER Price Analysis – 26 January

When bulls support the $23.43 price level and the $24.33 resistance level is broken, silver’s price may rise, possibly reaching the $24.66 and $25.31 resistance levels. If sellers apply more pressure, Silver price might go as low as $22.93 and $22.15, below the $23.43 support line.

XAGUSD Market

Key Levels:

Resistance levels: $24.33, $24.66, $25.31

Support levels: $23.43, $22.93, $22.15

XAGUSD Long-term trend: Ranging

XAGUSD (Silver) is on the ranging movement on the long-term outlook. Long-term fluctuations can be seen in XAGUSD (Silver) market. The purchases slowed down when silver’s price during the preceding three weeks hit a high of $24.33. It couldn’t pass the level that was previously set. In the same way, the buyers resisted the sellers’ efforts to reduce the price below $23.43, hence it commenced a ranging movement.

White metal’s cost began to fluctuate between $24.33 and $23.43. The 9-period and 21-period EMAs are tied to one another, and the silver price is still moving in close proximity to them. At level 54, the signal lines on the Relative Strength Index period 14 display a nonspecific direction, indicating a ranging signal. When bulls support the $23.43 price level and the $24.33 resistance level is broken, silver’s price may rise, possibly reaching the $24.66 and $25.31 resistance levels. If sellers apply more pressure, the price might go as low as $22.93 and $22.15, below the $23.43 support line.

XAGUSD Medium-term Trend: Ranging

On the 4-hour chart, XAGUSD is in the range-movement phase. Several weeks ago, during a period of strong buyer enthusiasm, Silver rose to the $24.33 barrier level. The bulls defended the prior level, which led to a retest of the $23.95 resistance level.

Since then, the cost has fluctuated, ranging from $24.33 to $23.43. 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 is at 55 level with no specific market direction.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News