Silver is showing a strong bullish structure on the weekly timeframe. The price has been consistently forming Higher Highs (HH) and Higher Lows (HL), respecting a long-term ascending trendline that’s acting as dynamic support. This trendline has held multiple pullbacks, confirming strong underlying demand.
Currently, Silver is approaching its All-Time High (ATH) resistance near $34.83 while testing the upper resistance trendline of an ascending channel. A clean breakout above this level could trigger a major rally, potentially setting a new ATH. If the price faces rejection, a healthy pullback toward the support zone around $30 could offer another long-entry opportunity.
The structure remains bullish as long as Silver holds above the trendline support. A successful breakout above $34.83 could lead to a strong bullish continuation.
Still DYOR, NFA
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Currently, Silver is approaching its All-Time High (ATH) resistance near $34.83 while testing the upper resistance trendline of an ascending channel. A clean breakout above this level could trigger a major rally, potentially setting a new ATH. If the price faces rejection, a healthy pullback toward the support zone around $30 could offer another long-entry opportunity.
The structure remains bullish as long as Silver holds above the trendline support. A successful breakout above $34.83 could lead to a strong bullish continuation.
Still DYOR, NFA
Found this analysis helpful? Don’t forget to like, drop a comment, and follow us for more insights. Thanks for the love!
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