Silver at a Crossroads: Key Support Test Will Determine the Metal's Fate
Silver (XAG) is attempting to reclaim the $69 level, rebounding nearly 3% from local lows. However, the metal is still trading 45% below its January high and is at a critical juncture that will determine its future trajectory.
The local uptick coincided with a temporary easing of geopolitical tensions in the Middle East — the standoff between the US and Iran has been in the market's focus for several days. At the same time, a strengthening dollar and hawkish rhetoric from the Federal Reserve continue to pressure the precious metals market. As a result, silver is caught between recovery attempts and the risk of a deeper decline.
Why Robert Kiyosaki is watching silver but not rushing to buy
On Monday, the price of silver rose to $66.7 — up nearly 2.8% in a single day. This growth occurred against the backdrop of a temporary decline in demand for safe-haven assets, which supported the precious metals market earlier.
Robert Kiyosaki, author of the bestseller "Rich Dad Poor Dad," stated this week that he does not yet plan to increase investments in gold, silver, Bitcoin (BTC), and Ethereum (ETH). In his view, the macroeconomic situation is decisive, not the current price decline. Kiyosaki does not specify target levels or specific entry points into the market.
Key level — $68.88
On the four-hour chart, silver has fallen below the 0.618 Fibonacci retracement level — $68.88 — and is now attempting to recover above it. This level has become the point on which the future direction of the dynamics depends.
Analyst Kamil Uray notes that support remains at the $63 level — this threshold is holding for now. If the price rises above $71, the path to resistance in the $77-89 range will open. If quotes consolidate above this zone, the rebound will have prospects for continuation. Until then, silver remains in a corridor between support at $63 and resistance at $71.
XAG forecast: everything hinges on the $68.88 level
The daily chart shows that since January, silver has been in a sustained downtrend. At peaks around $96 and $89, new lows formed almost immediately. The price is now 45% below the all-time high of $121.76: the correction is deepening. The RSI (Relative Strength Index) has risen to the 40 level but has not yet crossed the neutral 50 mark.
A recovery above $68.88 would shift market attention first to $79, and then to the resistance zone at $89. If the level is lost, silver could return to $55 — the 0.786 Fibonacci retracement level, coinciding with long-term support.
Expert commentary from Cryptalist: The $68.88 level is not just a line on the chart, but a psychological barrier that separates the bear market from a potential reversal. For now, the initiative remains with sellers, and a confident weekly close above this mark will be required for a trend change. Without this, any rebound will only be a temporary respite.