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>>Silver price outlook: XAG/USD falls sharply from its $89 high as the tariff‑driven rally collapses amid profit‑taking pressure.

Silver price outlook: XAG/USD falls sharply from its $89 high as the tariff‑driven rally collapses amid profit‑taking pressure.

crypthub

about 3 hours ago

Market Reversal

The XAG/USD pair dropped sharply from a $89 peak on Dec 12, 2024, as traders took profits after a tariff‑driven rally. Selling accelerated during European hours, pushing the price below $86. Institutional funds led the outflow, and automated stop‑losses added momentum, reflecting a correction of an overextended move.

Technical Outlook

The $90 psychological barrier acted as strong resistance, while the 50‑day moving average near $84.5 now tests support. RSI had been overbought above 75 for three days, signaling downside risk. Volume clusters between $86‑$87 form a high‑volume node that may become a short‑term battleground.

Fundamental Drivers

The rally was sparked by new import tariffs and fears of supply‑chain strain, but central‑bank statements and faster‑than‑expected supply adjustments reduced inflation worries. A stronger U.S. dollar further weighed on dollar‑priced silver. Meanwhile, industrial demand from solar and EV sectors stays robust, supporting a floor for prices.

Outlook & Key Levels

Analysts expect the $84.5‑$87 zone to decide if the market merely pauses or heads for a deeper correction toward $82. Long‑term prospects remain tied to chronic supply deficits and green‑energy metal needs. Traders should watch price action around the 50‑day average and volume support area for the next directional cue.