SILVER PRICE FORECAST: XAG/USD SLIDES BELOW $33.00; 200-PERIOD EMA ON H4 HOLDS THE KEY FOR BULLS
SILVER PRICE FORECAST: XAG/USD SLIDES BELOW $33.00; 200-PERIOD EMA ON H4 HOLDS THE KEY FOR BULLS
Silver prices (XAG/USD) have experienced a notable decline, falling below the $33.00 mark during the Asian session on Wednesday, April 30, 2025.
This movement has raised concerns among traders, particularly regarding the 200-period Exponential Moving Average (EMA) on the 4-hour chart, which is now a critical level for bullish momentum.
After a modest uptick earlier in the session, silver prices reversed course, slipping below the $33.00 threshold.
This decline has prompted traders to reassess the metal's near-term prospects.
The failure to maintain levels above $33.00 has intensified bearish sentiment.
The 200-period EMA on the 4-hour chart has emerged as a pivotal support level.
A sustained break below this level could signal further downside potential for silver prices.
maintaining support at this level may provide a foundation for a bullish reversal.
The Relative Strength Index (RSI) presents a mixed outlook.
While it remains above the neutral 50 mark, indicating some bullish momentum, the downward slope suggests waning strength.
A decline below the 50 level could confirm a shift towards bearish momentum.
