Silver Price Analysis: XAG/USD rally pauses as ‘doji’ emerges as US yields climb
Source Fxstreet
- Silver trades at $29.60, posting slight losses of 0.04% amid mixed US economic data.
- Technical outlook shows a ‘doji’ pattern, signaling indecision among traders.
- Silver must stay above $29.00 to challenge the YTD high of $29.79 and further resistance levels at $32.15 and $35.40.
Silver’s advancement paused on Thursday, as the grey metal posted minuscule losses of 0.04%, exchanging hands virtually unchanged. Jobs data, along with mixed housing data and the lack of strength in the manufacturing and industrial sectors, boosted US yields and the Greenback. Therefore, the grey metal dropped and traded at $29.60 at the time of writing.
XAG/USD Price Analysis: Technical outlook
Silver’s uptrend remains in place, but Thursday’s price action forming a ‘doji’ indicates that neither buyers nor sellers are in the domain of price action. It should be said that a ‘double top’ looms. However, momentum favors the former, as the Relative Strength Index (RSI) continues to aim upward despite approaching overbought conditions.
That said, if XAG/USD stays above $29.00, buyers could remain hopeful of testing the year-to-date (YTD) high of $29.79. A breach of the latter will pave the way to challenge the February 2013 high of $32.15, followed by the October 2012 high of $35.40.
Conversely, sellers must drag Silver’s price below the $29.00 figure. In that outcome, the pullback could reach the May 18, 2021, high turned support at $28.75, followed by the $28.00 mark. Further losses lie below the latter, with key support seen at $27.00.
XAG/USD Price Action – Daily Chart
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
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