Silver is holding firm around the $57 region, an important technical support area backed by multiple confluences.
This zone aligns with the 0.618 Fibonacci retracement while also sitting near the Value Area Low (VAL), making it a key level where buyers have continued to defend price. The reaction from this region suggests that demand is still present despite recent volatility, keeping the broader bullish structure intact.
Price is now trading around the Point of Control (POC), a level that represents the highest volume traded within the current range. This area often acts as a battleground between buyers and sellers, meaning the next move from here could set the tone for the coming sessions. At the same time, silver remains capped by dynamic resistance, which continues to limit upside momentum.
A confirmed breakout above both the Point of Control and the dynamic resistance would significantly strengthen the bullish outlook. Such a move would signal that buyers have regained control and could open the probability of a rally toward the next major high-timeframe resistance around $62.
Until that confirmation occurs, traders should continue monitoring price action around the POC, as rejection from this level could delay the next leg higher and keep silver consolidating within its current range.
This zone aligns with the 0.618 Fibonacci retracement while also sitting near the Value Area Low (VAL), making it a key level where buyers have continued to defend price. The reaction from this region suggests that demand is still present despite recent volatility, keeping the broader bullish structure intact.
Price is now trading around the Point of Control (POC), a level that represents the highest volume traded within the current range. This area often acts as a battleground between buyers and sellers, meaning the next move from here could set the tone for the coming sessions. At the same time, silver remains capped by dynamic resistance, which continues to limit upside momentum.
A confirmed breakout above both the Point of Control and the dynamic resistance would significantly strengthen the bullish outlook. Such a move would signal that buyers have regained control and could open the probability of a rally toward the next major high-timeframe resistance around $62.
Until that confirmation occurs, traders should continue monitoring price action around the POC, as rejection from this level could delay the next leg higher and keep silver consolidating within its current range.
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partner.blofin.com/d/TheAlchemist
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Claim $1000 Deposit Bonus 🎁
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