Silver<\/a> prices have tumbled from a late-week peak for Friday’s trading, skidding into $22.30 after falling over 5.5% over the course of the US trading session.<\/p>\nThe XAG\/USD is back into familiar lows that Silver has cycled into for most of the year, driven by a resurgence in US Dollar (USD) bidding as global markets routinely pivot on fears of an impending economic slowdown that could roll over into a full-blown ‘hard landing’ if left unchecked.<\/p>\n
Silver prices have consistently waffled on the top end ever since slipping from 2023’s early peak above $26.00, a high set back in May.<\/p>\n
Friday’s sharp reversal only serves to highlight the XAG\/USD’s large exposure to broader market sentiment, tracking closely with US Dollar flows.<\/p>\n
XAG\/USD technical outlook<\/h2>\n
Silver is trading back into a familiar bottom just above the $22.00 major psychological level. A descending pattern of lower highs in XAG\/USD is capping off long-term bullish potential, and a descending trendline is marked in from May’s peak just north of $26.00.<\/p>\n
Despite Friday’s bomb-drop into the floor, the XAG\/USD could potentially be set for another bullish turn around the cyclical pattern if Silver bidders can amass enough to arrest the current slide.<\/p>\n
On the down side, if risk-off price pressure maintain through the weekend and into next week, Silver could see itself dropping further below $23.00 and set up a bearish push into $22.00 and beyond into six-month lows.<\/p>\n
XAG\/USD daily chart<\/h2>\n<\/p>\nXAG\/USD technical levels<\/h2>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Share: XAG\/USD fell $1.28 during the US trading session, backsliding into $22.30. Bulls failed to establish a floor in XAG\/USD prices and Silver slumped to a new weekly low. Broad-market reversal in risk appetite sending Silver into the floorboards. Silver prices have tumbled from a late-week peak for Friday’s trading, skidding into $22.30 after falling […]<\/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":[201,248,251,246,257,255,250,350,252,247,253,249,671,256,254,672],"class_list":["post-166103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-metals","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-silver","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166103","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=166103"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166103\/revisions"}],"predecessor-version":[{"id":166104,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166103\/revisions\/166104"}],"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=166103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=166103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=166103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}