{"id":325103,"date":"2024-06-17T19:32:18","date_gmt":"2024-06-17T14:02:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=325103"},"modified":"2024-06-17T19:32:18","modified_gmt":"2024-06-17T14:02:18","slug":"pulling-back-within-a-probable-downtrend-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/pulling-back-within-a-probable-downtrend-crypto-news\/","title":{"rendered":"Pulling back within a probable downtrend &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Silver is correcting within a short-term downtrend.\u00a0<\/strong><\/li>\n<li><strong>A break below the June 13 lows would probably lead to a continuation of the trend of lower lows.\u00a0<\/strong><\/li>\n<li><strong>The 50-day Simple Moving Average is an obstacle to bears pushing price lower.\u00a0<\/strong><\/li>\n<\/ul>\n<p>Silver (XAG\/USD) trades a third of a percent lower in the $29.40s on Monday. Despite trading marginally lower on the day it has overall recovered since falling to a low of $28.66 on June 13.\u00a0<\/p>\n<p>The precious metal is in a short-term downtrend, on balance, and given \u201cthe trend is your friend\u201d this is likely to continue. The recovery since June 13 is probably a pull back rather than a reversal \u2013 once it finishes the downtrend will probably resume.<\/p>\n<h3 class=\"fxs_headline_medium\">Silver 4-hour Chart\u00a0<\/h3>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_XAG_USD_2024-06-17_15-18-40-638542284998464363.png\"><\/a><\/p>\n<p>A break below $28.66 (June 13 low) would confirm another lower low, and a continuation of the bearish sequence.\u00a0<\/p>\n<p>After that, Silver could fall to an initial, conservative target at $28.06, the 0.618 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/support-resistance\/fibonacci\" data-fxs-autoanchor=\"\">Fibonacci<\/a> ratio of the height of the range that unfolded in the second half of May, extrapolated lower.\u00a0<\/p>\n<p>The 50-day Simple Moving Average (SMA) at $29.01 could act as an obstacle to progress lower.\u00a0<\/p>\n<p>Even more bearishness could see Silver reach as low as $27.02 (100% extrapolation of the height of the range lower).\u00a0<\/p>\n<p>It would require a close above $30.50 to bring the short-term downtrend into doubt. A move above the $31.55 lower high would suggest the possibility of a recovery to the range high at $32.51, and a reversal of the short-term trend.\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Silver is correcting within a short-term downtrend.\u00a0 A break below the June 13 lows would probably lead to a continuation of the trend of lower lows.\u00a0 The 50-day Simple Moving Average is an obstacle to bears pushing price lower.\u00a0 Silver (XAG\/USD) trades a third of a percent lower in the $29.40s on Monday. Despite trading [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8874,"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-325103","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\/325103","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=325103"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/325103\/revisions"}],"predecessor-version":[{"id":325105,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/325103\/revisions\/325105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8874"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=325103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=325103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=325103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}