{"id":270170,"date":"2024-03-23T05:09:55","date_gmt":"2024-03-22T23:39:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=270170"},"modified":"2024-03-23T05:09:55","modified_gmt":"2024-03-22T23:39:55","slug":"xag-usd-tips-top-of-range-and-reverses-lower-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xag-usd-tips-top-of-range-and-reverses-lower-crypto-news\/","title":{"rendered":"XAG\/USD tips top of range and reverses lower &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Silver price rises up and tips the top of a long-term range before reversing lower.\u00a0<\/strong><\/li>\n<li><strong>It has formed a Bearish Japanese candlestick pattern, enhancing the reversal thesis.\u00a0<\/strong><\/li>\n<li><strong>A move back down to a cluster of MAs in the 23.000s is foreseen subject to a continuation of the weakness.<\/strong><br \/>\u00a0<\/li>\n<\/ul>\n<p>Silver price (XAG\/USD) is trading in the $24.750s on Friday, after touching the top of a multi-month range at roughly $25.700 and reversing lower.\u00a0<\/p>\n<p>Silver formed a Bearish Engulfing Japanese <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" data-fxs-autoanchor=\"\">candlestick<\/a> pattern on the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\" data-fxs-autoanchor=\"\">chart<\/a> on Thursday, which reinforces the reversal and suggests more downside in the short-term.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_XAG_USD_2024-03-22_15-22-27-638467149908713840.png\"><\/a><\/p>\n<p><small>Silver versus US Dollar: Daily chart\u00a0<\/small><\/p>\n<p>The Moving Average Convergence\/ Divergence (MACD) momentum indicator is threatening to cross below its signal line, adding credence to the bearish reversal. The MACD is a particularly reliable indicator within range-bound markets and a cross would provide a good sell signal.\u00a0<\/p>\n<p>If the pair breaks below 24.405 it will probably continue south to a potential target at the cluster of major moving averages, in the lower 23.000s, starting with the 100-day Simple Moving Average (SMA) at 23.475.\u00a0<\/p>\n<p>A break back above the 25.770 highs of Thursday, however, would indicate a probable extension of the uptrend.\u00a0<\/p>\n<p>A decisive break above the range highs would indicate even more bullish momentum higher. Such a move would be expected to then reach a conservative target at the 0.618 extrapolation of the height of the range from the breakout point higher, and a target at 28.524.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Silver price rises up and tips the top of a long-term range before reversing lower.\u00a0 It has formed a Bearish Japanese candlestick pattern, enhancing the reversal thesis.\u00a0 A move back down to a cluster of MAs in the 23.000s is foreseen subject to a continuation of the weakness.\u00a0 Silver price (XAG\/USD) is trading in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":20827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,671,308,256,254,672],"class_list":["post-270170","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-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\/270170","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=270170"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270170\/revisions"}],"predecessor-version":[{"id":270172,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270170\/revisions\/270172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/20827"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=270170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=270170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=270170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}