XAG/USD quotes continue to move within the framework of the development of the fall and the formation of the descending model “Wolf Wave”. At the time of publication of the forecast, the Silver price is 33.33. Moving averages indicate the presence of an upward trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the growth in value from the current levels. At the moment, we should expect an attempt to develop growth in the value of the metal and a test of the resistance level near the area of 33.85. Where should we expect a price rebound downwards and a continuation of the fall in the price of Silver with a target below the level of 30.35.
Silver Forecast XAGUSD for March 21, 2025
An additional signal in favor of a decrease in quotes and prices for Silver XAG/USD will be a test of the resistance line on the relative strength indicator (RSI). The second signal in favor of a fall will be a rebound from the upper border of the bearish “Wolfe Wave” model. The cancellation of the option of a fall in prices for Silver on March 21, 2025 will be a strong growth and a breakout of 34.85. This will indicate a breakout of the resistance area and continued growth to the area above the level of 36.95. We should expect an acceleration of the fall in XAG/USD quotes with a breakout of the support area below the level of 32.85, which will indicate a breakout of the lower border of the bullish channel.
Silver Forecast XAGUSD for March 21, 2025 suggests an attempt to test the resistance area near the level of 33.85. Further, a continuation of the fall in quotes with a target below the level of 30.35. The cancellation of the Silver price decline option will be a strong growth and a breakout of the 34.85 level. This will indicate a breakout of the resistance area. In this case, we should expect a continuation of the rise in the Silver price with a target at the level of 36.95.
