Silver Just Hit $89, But The Charts Are Hiding a Catch
BeInCrypto
Silver reached $89 after a bullish breakout, but short-term indicators suggest a possible pullback before further gains.Summary
Silver (XAG) recently surged to $89 following a bullish breakout from a descending triangle. While the daily chart indicates potential for further growth toward $101, technical indicators on the four-hour timeframe, such as the RSI and MACD, point to fading momentum and a possible near-term correction to $79. Analysts emphasize that while macro factors like industrial demand and interest rate expectations support long-term upside, traders should monitor the $83 support level closely to determine if the current bullish trend will hold or face deeper consolidation.
(Source：BeInCrypto)