Silver (XAG/USD) Bulls Hold Strong Near $34.50 as Price Eyes Fresh Highs

Silver (XAG/USD) Trades Firmly Near $34.50, Bulls Eye Break Above YTD High

Silver Consolidates Below YTD High After Strong Rally

Silver (XAG/USD) is trading firmly around $34.50 during Wednesday's Asian session, consolidating just below Monday’s year-to-date high. The precious metal retains a bullish bias following a sharp breakout above the key $33.80 resistance, which marked the top of a multi-week consolidation range.

Bullish Technical Setup Signals Room for More Upside

Technical indicators on the daily chart show strong upside momentum. The price action remains well above major short-term support levels, while the oscillators are comfortably in bullish territory and not yet overbought—supporting the case for a further move higher.

Learn more: How to Trade Silver Using Technical Analysis

Key Resistance Levels to Watch: $34.90, $35.66, and $36.00

Silver bulls now look to break above the $34.80–$34.90 area, a zone that includes the YTD high and the 12-year high from October 2024. A sustained move beyond this zone could open the path toward:

• $35.66 – the March 2012 swing high
• $36.00 – a major psychological level not seen since February 2012

Pullbacks Likely to Find Buyers Near $33.00

Any price retracement is expected to remain limited, with support near $33.00 likely to attract buyers and reinforce the overall uptrend structure.

Explore more: What’s Driving Precious Metals in 2025?

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