Silver price prediction: $60.92 support as XAG trades flat

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Silver drops 0.23% today to $63.27

Highlights

Ceasefire talks between the US and Iran have eased immediate supply concerns, stabilizing industrial demand expectations for silver.
Despite geopolitical uncertainty, silver prices remain under broad selling pressure as market focus shifts to demand risks.
Technicals confirm bearish momentum, with price trading below major averages and 2–3 day range projected at $60.92 to $65.62, downside favored.

Industrial demand steadying as US-Iran ceasefire offsets selling pressure

Reports indicated that hopes for the US-Iran ceasefire to remain intact persisted despite recent attacks, maintaining expectations for steady industrial demand amidst regional tensions. The ongoing ceasefire discussions have contributed to short-term stability in physical supply sentiment for silver. Broader market attention has focused on how these geopolitical developments could influence the commodity's underlying demand, though price action has remained under broader selling pressure.

Bearish momentum deepens amid resistance and mixed indicator signals

On the technical front, XAG is trading below the MA-20 and MA-50 on the H1 chart, and remains well under the MA-200 on the daily timeframe. The Ichimoku Kijun sits at $63.65 and serves as the nearest resistance level. Momentum is mostly bearish, with MACD on a Strong Sell and ADX on Sell, while the RSI reads 44.75, reinforcing a negative momentum bias. The Stoch RSI and CCI are both Neutral, highlighting indecision, while Bull/Bear Power (BBP) signals intermittent intraday buyer interest.

Downside risk elevated given persistent range and weak breakout odds

Over the next 2–3 trading days, XAG is expected to oscillate within a volatility band between $60.92 and $65.62. The probability of a near-term upward move is considered very low, with a significantly higher chance of further decline. Unless immediate resistance is breached, price action is likely to remain in a sideways or lower range, with a clear downside risk if support around $60.92 fails to hold.

Viktoras Karapetjanc, expert at Traders Union, sees silver pressured by negative technical momentum, yet stabilized by persistent hopes around the US-Iran ceasefire. He believes this macro news helps underpin confidence in industrial demand flows for now. However, bearish signals continue to outweigh any upside, keeping prices capped below key resistance. The analyst remains constructive over the medium term, but views short-term upside as unlikely until price action shows a defined change. "Silver's price could rebound if supply sentiment shifts and resistance levels are reclaimed, but for now, caution is warranted as downside risks remain dominant."

Earlier, analysts noted that silver was facing persistent downward pressure amid ongoing geopolitical uncertainty and a predominantly bearish technical outlook. The latest developments confirm the continuation of this downside momentum, making the $60.92 support level a critical threshold for traders monitoring the risk of further declines.

Source of Data: XAG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.