Silver maintains upward trajectory but how to buy xrp etfstruggles to breach the psychological $37 barrier.
Recent pullbacks have consistently found support above $36.00, indicating underlying demand.
Dollar resilience and Treasury yields create headwinds for precious metal appreciation.
The XAG/USD pair demonstrates persistent buying interest despite trading within a constrained $2 band over the past month. Technical indicators reveal gradual upward pressure originating from late June's base, though the $37.00 threshold continues to present formidable resistance, preventing advancement toward the critical $37.25 peak established earlier.
While macroeconomic uncertainties continue supporting safe-haven assets, the combination of robust dollar performance and elevated bond yields currently restricts silver's upside potential. Market participants appear cautious, awaiting clearer directional signals before committing to significant positions.
Chart Patterns Suggest Cautious Optimism
Technical evaluation reveals strengthening bullish characteristics. The formation of progressively higher swing lows accompanies improving momentum, with the 4-hour RSI maintaining its position above the neutral 50 level. This configuration typically precedes potential breakout scenarios.
Monday's market action witnessed notable buying interest emerging near the ascending channel's lower boundary, reinforcing the pattern's validity. However, Tuesday's subdued price movement reflects trader hesitation, mirroring the broader market's indecisive sentiment.
The immediate resistance cluster around $37.00, incorporating both recent intraday peaks and the July 4 high, continues restraining upward movement. Conversely, downward excursions encounter consistent absorption, with the $36.65 support level proving particularly resilient. A decisive breach below the channel's foundation at $36.25 would invalidate the current constructive outlook, potentially exposing the $35.80 region tested in late June.
