Silver (XAG/USD) traded in a narrow range just above $68.00 during the Asian session on Friday, struggling to gain meaningful traction after a recent breakdown below the 100-day Simple Moving Average (SMA) for the first time since April 2025 [1]. This technical event is viewed as a key trigger for bearish sentiment, with the Moving Average Convergence Divergence (MACD) indicator remaining negative and below the zero line, reinforcing downside momentum despite some recent flattening [1]. The Relative Strength Index (RSI) is in the mid-30s, suggesting weak momentum but not outright oversold conditions, which leaves room for further downside if sellers continue to press the move [1].
Immediate resistance for any recovery attempt is identified near the 100-day SMA at approximately $74.70, and a daily close above this level would ease bearish pressure and potentially open the way toward the $80.00 region as the next upside hurdle [1]. On the downside, initial support is located at the recent low near $67.80; a break below this level would expose the mid-$60.00 zone as the next demand area, consistent with the broader moving-average-supported trend [1].
The technical setup suggests that the path of least resistance for silver remains to the downside, backing the case for an extension of the recent four-week decline from the monthly swing high [1]. A sustained defense of the $67.80 support would keep the current pullback contained, while repeated failures to reclaim the 100-day SMA would maintain focus on lower supports [1].
No explicit market reactions or analyst opinions are provided in the article, but the technical indicators and price action point to continued bearish sentiment unless key resistance levels are reclaimed [1].
CONCLUSION
Silver is consolidating above $68.00 but remains under bearish technical pressure following a breakdown below the 100-day SMA. The market is likely to see further downside unless buyers can reclaim resistance near $74.70, with $67.80 acting as a critical support level. Overall, sentiment is negative and the path of least resistance appears lower.