Here’s Where Silver Price Could Be Headed This Week

The silver price has been all over the place lately, not just because of its own market, but because the world around it is unstable.

After racing to a record high near $121 in late January, the price dropped hard, bounced briefly in early March, and is now slipping again below the $70 zone. It’s been sharp moves up, sharp moves down, no real balance yet.

A big part of that chaos is coming from the ongoing U.S.–Iran conflict. At first, the war actually pushed silver higher as investors rushed into “safe” assets.

But that didn’t last. As the conflict dragged on, oil prices pumped, the dollar strengthened, and inflation fears picked up, and that ended up putting pressure on silver instead.

So right now, silver is caught in between two forces. On one side, war and global tension usually support prices. On the other, rising yields, a stronger dollar, and economic pressure are pulling it down. That’s why the price action feels messy, the market is still trying to decide which side matters more.

Here’s What The Silver Chart Is Showing

We took a look at the chart, and silver is trading around $67.89. The price is clearly under pressure. After attempting to hold the gains made last month, the prices have failed to sustain above the crucial $70 mark and have again dropped below it.

As can be observed from the above charts, the prices have been making lower highs, which is indicative of the fact that the sellers are gradually taking over the market.

With each rise in the silver price, there is a fall. Support is getting poked at more and more, which tells us it’s losing strength.

The chart’s looking messy overall, but the short-term vibe leans a bit bearish. There’s no strong trend upward right now, just a market that is slowly drifting lower after failing to hold its bounce.

Source: TradingView.com

Also, looking at the indicators on the chart, the picture still leans slightly bearish.

The silver price is trading below the SMA, which is a sign that the short-term trend is still weak. As long as silver stays under that level, it shows buyers haven’t fully taken back control yet.

The MACD is also not looking strong. The histogram has been fading and dipping into the red, which tells us momentum is slowing down. The MACD lines are also close together, showing there’s no strong push in either direction right now.

Put simply, both indicators are saying the same thing, the market is weak, and buyers are not stepping in with enough strength yet.

_****Dogecoin (DOGE) Could Create the Next Wave of Crypto Millionaires with a 2,500% Rally – Here’s How**

Silver Price Targets This Week

If silver manages to push higher, the first level to watch is $70. This is the key level it recently lost. A move back above it could lead to a recovery toward $75, and if momentum builds, possibly $80.

On the downside, support sits around $65. If the silver price slips past this zone, we could be looking at a drop toward $60, a level that’ll have everyone’s eyes glued.

Right now, it’s a tug-of-war. Buyers need to wrestle it back above $70, or sellers could drag it down even further.