Silver (XAG/USD) declined by 0.30% on Thursday, failing to surpass the key resistance level at $81.00 as the US dollar strengthened. At the time of reporting, XAG/USD was trading at $78.73 after reaching a daily high of $80.86 [1].
Technical analysis indicates that silver formed a lower high and a lower low, with back-to-back doji candles suggesting trader indecision about pushing prices higher. The Relative Strength Index (RSI) remains bullish but has flattened, pointing to a period of consolidation [1].
For a bullish continuation, a decisive break above $81.00 is required, which could open the path for buyers to challenge the 2025 high at $83.75, followed by the March 10-cycle high at $90.01, and potentially the March 2 peak at $96.39 before targeting the psychological $100 mark. Conversely, if XAG/USD falls below the 100-day Simple Moving Average (SMA) of $76.94, further declines toward the 20-day SMA at $73.36 and the $70.00 psychological level are expected [1].
No analyst opinions or broader market reactions were provided in the source article.
CONCLUSION
Silver's rally has stalled below the $81.00 resistance, with technical signals pointing to possible consolidation or downside risk. A break above $81.00 could reignite bullish momentum, while a drop below key moving averages may lead to further declines.