{"id":152016,"date":"2023-09-08T11:09:13","date_gmt":"2023-09-08T05:39:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=152016"},"modified":"2023-09-08T11:09:13","modified_gmt":"2023-09-08T05:39:13","slug":"xag-usd-retakes-23-00-mark-not-out-of-the-woods-yet-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xag-usd-retakes-23-00-mark-not-out-of-the-woods-yet-crypto-news\/","title":{"rendered":"XAG\/USD retakes $23.00 mark, not out of the woods yet &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>Silver gains some positive traction and snaps a seven-day losing streak to over a two-week low.<\/strong><\/li>\n<li><strong>The technical setup still favours bears and warrants caution before positioning for further gains.<\/strong><\/li>\n<li><strong>A sustained move beyond the 100-period SMA on the 4-hour chart will negate the bearish bias.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/xagusd\">Silver<\/a> attracts some buying during the Asian session on Friday and for now, seems to have snapped a seven-day losing streak to a two-and-half-week low, around the $22.85 region touched the previous day. The white metal currently trades just above the $23.00 mark, up over 0.40% for the day, though lacks bullish conviction and seems vulnerable to weaken further.<\/p>\n<p>The outlook is reinforced by the fact that technical <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/indicators\">indicators<\/a> on the daily chart have just started gaining negative traction, which supports prospects for the emergence of fresh selling at higher levels. Moreover, the Relative Strength Index (RSI) on the 4-hour chart has also recovered from the oversold territory. This, in turn, suggests that the path of least resistance for the XAG\/USD is to the downside and any subsequent move up might still be seen as a selling opportunity.<\/p>\n<p>Bearish traders, however, need to wait for some follow-through selling below the overnight swing low, around the $22.85 area, before placing fresh bets. The XAG\/USD might then accelerate the downward trajectory below the $22.65-$22.60 support, towards challenging a strong horizontal support near the $22.20-$22.10 zone. This is followed by the $22.00 mark, which if broken will confirm a fresh breakdown and set the stage for an extension of the well-established downtrend.<\/p>\n<p>On the flip side, the $23.35-$23.40 region is likely to act as an immediate hurdle ahead of the $23.65 area, representing the 100-period Simple Moving Average (SMA) on the 4-hour chart, which should act as a pivotal point. A sustained strength beyond will suggests that the recent downfall has run its course and shift the bias in favour of bullish traders. The subsequent short-covering move might then lift the XAG\/USD to the $24.00 mark en route to the $24.30-$24.35 supply zone.<\/p>\n<h2 class=\"fxs_headline_medium\">Silver 4-hour chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638297467966351316.png\"><\/a><\/p>\n<h3 class=\"fxs_headline_medium\">Technical levels to watch<\/h3>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Silver gains some positive traction and snaps a seven-day losing streak to over a two-week low. The technical setup still favours bears and warrants caution before positioning for further gains. A sustained move beyond the 100-period SMA on the 4-hour chart will negate the bearish bias. Silver attracts some buying during the Asian session [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,255,250,252,247,253,249,671,308,256,254,672],"class_list":["post-152016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-silver","tag-technical-analysis","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=152016"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152016\/revisions"}],"predecessor-version":[{"id":152017,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152016\/revisions\/152017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/10382"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=152016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=152016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=152016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}