Silver Price Hits $33.57: 3 Levels Traders Are Watching as Breakout Momentum Builds

Silver (XAG/USD) is trading at $33.57, up on a softer US dollar and rising geopolitical tensions. The greenback dropped 0.6%

Arslan Butt•Thursday, May 22, 2025•1 min read

Quick overview

Silver (XAG/USD) is currently trading at $33.57, buoyed by a weaker US dollar and escalating geopolitical tensions.
The market is cautious as US equities decline and Treasury yields rise amid concerns over the US deficit and proposed tax reforms.
Silver is testing a resistance zone between $33.41 and $33.69, with key support at the 50-EMA of $32.91.
Traders are advised to wait for confirmation before entering positions, focusing on breakout or pullback strategies.

Silver (XAG/USD) is trading at $33.57, up on a softer US dollar and rising geopolitical tensions. The greenback dropped 0.6% against major currencies making dollar denominated metals more attractive to overseas buyers. This comes as US equities are falling and Treasury yields are rising as investors worry about the growing US deficit and President Trump’s proposed tax plan.

Markets are on edge. “We’re paused between the high and recent low, waiting for more clarity on trade and tariffs” said RJO Futures strategist Daniel Pavilonis. A recent Reuters poll showed a fragile US economic outlook despite the temporary truce in the US-China trade war.

Global tensions are high. CNN reported that Israel may be preparing to strike Iran’s nuclear facilities even as diplomatic channels are open. This is continuing to drive demand for safe haven assets like silver and gold.

Gold Technical Setup: Resistance Zone in Play

Silver is testing the resistance zone between $33.41 and $33.69 which capped previous rallies in April. Price is inside an ascending channel and the 50-EMA ($32.91) is acting as support.

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

Key technicals:

EMA Bias: Price above 50-EMA is bullish.
MACD Crossover: Bullish crossover with a positive histogram.
Candlestick Signal: Spinning top forming near resistance.

If silver closes above $33.70 it could target $33.96 and $34.20. If rejected it could go to $33.18 or $32.89 both key support levels.

Gold Trade Strategy: Patience Over FOMO

For new traders the current setup offers two entry strategies:

Breakout Entry: Wait for a confirmed close above $33.70.
Pullback Entry: Enter near $33.18-$32.89 if support holds.

Don’t trade near resistance. Momentum is slowing and confirmation is key before committing capital. With macro uncertainty and strong technicals in play silver is worth watching.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

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.