{"id":329194,"date":"2024-06-23T00:30:20","date_gmt":"2024-06-22T19:00:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=329194"},"modified":"2024-06-23T00:30:20","modified_gmt":"2024-06-22T19:00:20","slug":"xag-usd-sinks-below-30-00-as-bearish-engulfing-pattern-looms-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xag-usd-sinks-below-30-00-as-bearish-engulfing-pattern-looms-crypto-news\/","title":{"rendered":"XAG\/USD sinks below $30.00 as bearish-engulfing pattern looms &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Silver declines 3.86% sparked by firm US Treasury yields and a strong US Dollar.<\/strong><\/li>\n<li><strong>Technical outlook shows a bearish engulfing pattern with RSI turning bearish, indicating potential further losses.<\/strong><\/li>\n<li><strong>Key support levels: 50-DMA at $29.09, $29.00, and MTD low of $28.66, with deeper support at 100-DMA of $26.60.<\/strong><\/li>\n<li><strong>Key resistance levels: June 7 high at $31.54, $32.00, and YTD high of $32.51.<\/strong><\/li>\n<\/ul>\n<p>Silver price dropped sharply and snapped two days of gains amid firm US Treasury bond yields and a strong US Dollar. The grey metal trades at $29.53 , down 3.86%<\/p>\n<h2 class=\"fxs_headline_medium\">XAG\/USD Price Analysis: Technical outlook<\/h2>\n<p>Silver is still bullish biased though joining today and yesterday price action completed a \u2018bearish engulfing,\u2019 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\" data-fxs-autoanchor=\"\">chart<\/a> pattern. Momentum shifted in sellers\u2019 favor as the Relative Strength Index (RSI) turned bearish and opened the door for further losses.<\/p>\n<p>That said, XAG\/USD&#8217;s first support would be the 50-day moving average (DMA) at $29.09; it will expose $29.00. Breaching this level could lead to the MTD low of $28.66, ahead of a potential drop towards the 100-DMA at $26.60.<\/p>\n<p>On the flip side, if XAG\/USD resumes its uptrend, the next resistance level is the June 7 high of $31.54. Clearing this level would target $32.00 before challenging the year-to-date (YTD) high of $32.51.<\/p>\n<h2 class=\"fxs_headline_medium\">XAG\/USD Price Action \u2013 Daily Chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638546046632429760.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Silver declines 3.86% sparked by firm US Treasury yields and a strong US Dollar. Technical outlook shows a bearish engulfing pattern with RSI turning bearish, indicating potential further losses. Key support levels: 50-DMA at $29.09, $29.00, and MTD low of $28.66, with deeper support at 100-DMA of $26.60. Key resistance levels: June 7 high at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,350,252,247,253,249,671,308,256,254,672],"class_list":["post-329194","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-technical-analysis","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329194","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=329194"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329194\/revisions"}],"predecessor-version":[{"id":329198,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329194\/revisions\/329198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/11552"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=329194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=329194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=329194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}