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...

Quick overview

  • Silver (XAG/USD) is currently trading around $36.10 after bouncing off critical support at $35.61, following a drop from $37.30.
  • The 50-period EMA at $36.31 is acting as a dynamic resistance, limiting bullish momentum despite early signs of stabilization.
  • Key support levels include $35.61, which is a confluence zone, while resistance is found at $36.32 and $36.64.
  • For a bullish shift, silver must break above the $36.32–$36.64 resistance zone to target recent highs.

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 Price Chart - Source: Tradingview
Silver Price Chart – Source: Tradingview

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.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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