Silver Price Nears Key $36.64 Barrier After Bounce Off $35.61 Support

Silver (XAG/USD) is hovering around $36.10 after bouncing off critical support at $35.61, as traders attempt to regroup following last week’s drop from $37.30. Tuesday’s price action reflects early stabilization, but upside remains capped by the 50-period EMA, currently sitting at $36.31. That level, a dynamic resistance zone, continues to hold back bullish momentum.

The $35.61 support is not just a number—it’s a confluence zone combining both a horizontal level and an ascending trendline that’s been in place since early June. That makes it a pivotal area for short-term positioning. While the rebound is encouraging for bulls, the broader structure still favors caution, as lower highs continue to form and the 50 EMA looms overhead.

Silver (XAG/USD) Technical Momentum Shows Early Shifts

Zooming in on the 2-hour chart, silver is caught in a narrow range. Buyers are holding the line at $35.61, but they’ve yet to reclaim control. The MACD indicator offers a glimmer of hope: the histogram has flipped slightly positive, and a potential bullish crossover is taking shape—early signs of momentum shifting.

Still, bulls need more than hints. Silver must break above the $36.32–$36.64 resistance zone to re-establish a bullish tone. That would clear the way for a retest of recent highs at $36.99 and $37.30. Without that breakout, the metal remains trapped in a tightening range, vulnerable to macro-driven moves.

Silver Key Levels to Watch This Week

Until silver makes a decisive move in either direction, the following technical levels are likely to guide short-term strategies:

Support:

• $35.61 – Trendline and horizontal zone

• $35.29 – Minor support

• $34.97 – June floor

Resistance:

• $36.32 – 50 EMA

• $36.64 – Former breakdown zone

• $36.99 to $37.30 – Bullish breakout targets

The market remains highly sensitive to geopolitical headlines and broader risk sentiment. For now, silver bulls are holding the line—but they’ll need stronger momentum and a clean break above the 50 EMA to shift the narrative.