Silver Price Analysis: XAG/USD defends multi-month support near $25.80

Silver consolidates near the $25.80 after a free fall from the $28.00 level.
XAG/USD is holding above 200-day SMA indicating emergence of support here.
Oversold momentum oscillators warn against aggressive directional bids.

Rekha Chauhan Independent Analyst

Silver Price (XAG/USD) treads water in the Asian session. Prices move in a very close trading band with no meaningful traction.

At the time of writing, XAG/USD is trading at $25.89, down 0.02% for the day.

XAG/USD daily chart

On the daily chart, the white metal has been consolidating in a broader trading range of $27.00-$28-50, before breaking the range on June 16. XAG/USD tested the levels last seen in April.

If price makes sustained moves above the intraday high at $25.96, then it could continue to move higher. The first target could be found at the previous day’s high at $26.29.

The Moving Average Convergence Divergence ( MACD) indicator holds onto the oversold zone with stretched selling conditions. Any uptick in the MACD would allow bulls to take over the $26.60 horizontal resistance level.

That said, XAG/USD would be motivated to test the high of June 17 in the vicinity of the $27.25 area.

Alternatively, if price decisively breaks the 200-day Simple Moving Average (SMA) at $25.70, then it could meet its first lower target at the low of June 21 at $25.55.

A daily close below the mentioned level could prompt the bulls to march toward April 15 low at $25.32 followed by the $25.00 horizontal support level.

XAG/USD additional level

XAG/USD

Overview
Today last price	25.89
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	25.89

Trends
Daily SMA20	27.3
Daily SMA50	27.06
Daily SMA100	26.58
Daily SMA200	25.71

Levels
Previous Daily High	26.3
Previous Daily Low	25.74
Previous Weekly High	28.02
Previous Weekly Low	25.76
Previous Monthly High	28.75
Previous Monthly Low	25.81
Daily Fibonacci 38.2%	26.08
Daily Fibonacci 61.8%	25.95
Daily Pivot Point S1	25.66
Daily Pivot Point S2	25.42
Daily Pivot Point S3	25.1
Daily Pivot Point R1	26.21
Daily Pivot Point R2	26.53
Daily Pivot Point R3	26.77

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

EUR/USD holds losses below 1.1850 near nine-day EMA barrier

EUR/USD extends its losses for the second successive session, trading around 1.1840 during the early European hours on Tuesday. The 14-day Relative Strength Index momentum indicator at 53 (neutral) signals consolidation with a modest upside lean.

GBP/USD drops below 1.3600 after weak UK jobs report

GBP/USD is seeing a fresh selling wave, giving up the 1.3600 level in Tuesday's European trading. The United Kingdom employment data showed worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative is weighing heavily on the Pound Sterling.

Gold adds to intraday losses as risk-on mood offsets dovish Fed and subdued USD demand

Gold attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday. The commodity, however, quickly recovers to the $4,900 mark as traders opt to await more cues about the US Federal Reserve's (Fed) rate-cut path before placing fresh directional bets.

Pi Network rallies ahead of its first anniversary

Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.