The silver price forecast shows a bullish trend as XAG/USD steadies near $33.44. Even though there was a minor decline on Friday, technical indicators are still in favor of more gains.
Strong buying interest is suggested by the recent silver breakout from a downward trend. With XAG/USD gaining attention in the forex market, the spotlight is now on potential moves beyond the $34.00 level.
What’s Driving Silver’s Bullish Momentum in Forex?
The March-April Fibonacci retracement 61.8% drop, represented by the break of $33.00, served as a powerful bullish trend. The silver price forecast indicates more upside as long as oscillators stay optimistic. It looks promising, especially if the $33.00 level remains stable as support.
Silver’s value as a financial and industrial asset contributes to its price behavior. Due to its tie to the US dollar, XAG/USD price movements are greatly influenced by changes in the greenback.
A weakening dollar often supports silver appreciation. Traders in the forex market continue monitoring chart patterns for validation. The silver breakout has shifted the sentiment, but a fall below $32.00 would challenge the rally.
Will XAG/USD Break New Highs Soon?
The 4-hour chart of silver (XAG/USD) highlights a consolidation phase between $32.20 and $33.20. This is showing indecision and balance between buying and selling pressure. This range reflected a period of market accumulation or distribution, often signaling a potential breakout.
With a strong green candle, silver eventually broke above the $33.20 resistance level. It will then rise to $33.49 and push the price to $33.44. A change in sentiment was indicated by the breakout, as traders became increasingly optimistic about the metal’s upside prospects.
Chart 1 – XAG/USD 4-hour chart, published on TradingView, April 25, 2025.
The RSI stands at 59.44, suggesting further upside momentum without an overbought zone. An upward trend is indicated by the MACD’s continued proximity to zero. Currently, traders are monitoring the resistance level at $33.20. This level will serve as support for a further bullish trend.
The current XAG/USD exchange rate of $33.44 indicates ongoing buying interest. The next resistance levels are seen at $33.70 and $34.00. A break above these levels would validate the ongoing silver breakout. If $33.20 holds as support, traders expect further price gains. It is aligning with the silver price forecast for continued bullish movement in the short term.
What’s Next for Silver Bulls After $34.00?
As long as the price stays above $33.00, the silver price forecast is still optimistic for the near future. The next significant level is at $34.00, followed by $34.30. The metal will rise to the $34.55–34.60 level and even the psychological $35.00 level if the trend continues.
XAG/USD may be pushed back toward $32.40 and then $32.00 by bears if it is unable to hold above the $33.20–$33.00 range. If it closes below that level, it would indicate a drop-down momentum.
Bottom Line: Can Silver Continue Its Bullish Momentum?
The silver price forecast suggests that bulls retain control, especially as the price hovers above the critical $33.00 level. The recent silver breakout, which reached $34.00 and beyond reasonable targets, has altered the market.
Silver’s dual function as an industrial and investment commodity guarantees sustained interest as traders continue to track XAG/USD movements in forex markets. This dynamic contributes to its potential for further upside.
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