Silver is hovering around $78 – as long as $77 holds, the downside risk remains relatively manageable.

Silver(XAG/USD) Thursday’s Asian session trading was lackluster, oscillating around the $78 level, currently down about 0.40%. What’s more noteworthy is that the price has not broken below yesterday’s low and remains above the $77 mark, near the rising monthly trendline. As long as this area is not effectively breached, the current technical pattern leans more toward supporting a buy-the-dip strategy — but a clear breakdown could reverse the entire outlook.

The Key Support and Resistance Levels: $77 and $75.65

From a short-term technical perspective, key levels are clearly identifiable:

Major support zone: Around $77 (previous swing low combined with the ascending monthly trendline)

Deeper critical support: Near the $75.65 level around the 100-hour moving average — this is the dividing line for short-term traders deciding whether the trend will continue or reverse.

As long as silver prices stay above $77, especially if they remain above this support cluster, the short-term bias is mildly bullish. Pullbacks at this stage are more likely to be viewed as buying opportunities rather than sell signals. This dynamic is significant for silver price trend forecasts and the overall precious metals outlook.

Momentum Indicators: Recovery, Not Acceleration

From a technical standpoint, the market is “catching its breath” rather than “collapsing”:

• MACD: Moving from negative territory toward the zero line, indicating that momentum is gradually stabilizing; the previous decline has not triggered further deterioration.
• RSI (Relative Strength Index): Reading at 47, in neutral territory, showing no overbought or panic signals.

What does this combination imply? The trend is not particularly strong but also not broken. As long as support holds, downside potential remains effectively limited.

Risk Turning Point: If the 100-hour Moving Average is Broken

If silver prices effectively break below the 100-hour moving average combined with the ascending trendline, technical selling pressure could be triggered. In this scenario, the market might target:

• First target: Around $75.00 (psychological level)
• Further target: The mid-$74 region (secondary support/potential bottoming zone)

For traders focused on silver price forecasts and precious metals investment prospects, the success or failure at these levels will directly influence subsequent trading directions.