This structure was one of the reasons it hit an all-time high of $59.33 per ounce.
A closer look at the chart shows that the metal has held support at $48.88 and $51.03. At the same time, it has broken the resistance at $54.03.
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However, on the same timeframe, the Moving Average Convergence Divergence (MACD) has formed a bearish crossover.
This suggests that, despite the recent record high, the price action may be becoming weak.
Yet, the holders’ sentiment reading has remained positive.
Due to these mixed signals, it appears that Silver’s price might not hit an all-time high soon, but it is also unlikely to experience a notable breakdown.
For Silver, the daily chart shows it has broken above the neckline of a rounding bottom. This breakout followed the bullish MACD crossover recorded on Nov. 25.
At the same time, the Money Flow Index has continued to climb, signaling rising buying pressure. The recent Fed rate cut also played a major role in pushing Silver higher.
Now, the market is pricing in another 25-basis-point cut this week. If the Fed follows through, Silver could break above resistance at the psychological $60 level.
A breakout would likely drive momentum even higher, potentially sending the metal toward $76.46. However, the bullish outlook depends heavily on continued inflows.
If those inflows reverse, buying pressure may fade. In that scenario, Silver could fall back toward $53.47. Under a bearish market condition, the price might slide all the way to $48.83.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
