Silver tumbles toward $74 as bearish momentum builds

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Silver slides toward $70s

Highlights

Spot silver was last near $74.14/oz on February 17, extending the pullback and putting price back below the mid-$70s support band.
The day’s quoted range was unusually wide at roughly $72.81–$76.91, reinforcing how fragile liquidity can amplify moves when momentum turns.
Momentum is leaning bearish: RSI (14) 40.49 and MACD (12,26) -0.617, while trend strength (ADX (14) 52.11) suggests the downside move has traction.

Technical setup: price below key averages keeps rallies vulnerable

Silver is trading beneath its main daily trend markers, which tends to keep rebounds “sell-first” unless buyers quickly reclaim the short-term averages. The MA20 is 75.39, MA50 76.42, and MA200 79.12—all above spot.

Silver price dynamics (January - February 2026). Source: TradingView.Momentum is also not flashing a reversal signal yet. RSI(14) near 40.5 sits in a soft/bearish zone, and MACD(12,26) at about -0.617 supports the idea that downside pressure remains dominant rather than “washed out.”

Levels that matter now

With price trading below the central pivot, the chart is behaving more like a level-to-level market than a narrative-driven one. Using the classic pivot map, pivot is $74.8235, with resistance at R1 $75.1115, R2 $75.5875, and R3 $75.8755. Supports sit at S1 $74.3475, S2 $74.0595, and S3 $73.5835.The broader intraday extremes also frame the battlefield: the session has been quoted between roughly $72.81 and $76.91, so traders will be watching whether bounces stall well before the upper half of that band.

Macro backdrop and what traders are watching

The dollar and rates channel stayed relevant. In the same technical snapshot, the Dollar Index was around $97.195 (+0.39%), and the U.S. 10-year yield was near 4.026%, a mix that can weigh on dollar-priced metals when the market is already leaning defensive.Macro headlines also reflected a firmer dollar tone in early trading, with Reuters noting broad USD strength alongside weakness across precious metals in thin Asian conditions.

Price scenarios and short-term forecast

A bullish recovery case starts with silver reclaiming the $74.82 pivot and holding above it, then pushing through $75.11 (R1). A sustained move above that zone would shift attention to $75.59–$75.88 (R2/R3), where rallies may still meet supply if RSI remains below 50.The base case is choppy trade with a bearish tilt as long as spot holds below the MA20 (~75.39) and the pivot remains overhead. In that setup, rebounds are more likely to be corrective unless momentum improves meaningfully.

A bearish continuation case strengthens if silver fails to hold S1 (74.35) on a closing basis, which would open a path toward $74.06 and $73.58 next on the classic ladder. If pressure accelerates, the day’s lower extreme near $72.81 becomes the next “magnet” to watch.

Silver was recently bought on the decline toward $74 per ounce, which pushed prices back to $79.20 resistance. On the rise, the metal continues to be sold, but this time buying interest appears from $75.

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