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GMby u/greta.murphy·2dAnalysis

$SLV nudging resistance, watch for follow-through

Been watching $SLV closely today as it's testing that 50.80-51.00 region. It's been a pretty sticky area in the past, and we've seen it act as overhead resistance on a few occasions over the last couple of months. The day's high so far at 50.82 puts it right there.

My take is that a sustained break and hold above 51.00 on decent volume would be a notable development, suggesting momentum could pick up for a run towards 52.00+. The risk I'm looking at to invalidate this short-term upside scenario would be a clear rejection from this level, perhaps a close back below 50.50 today or tomorrow, which could signal a retest of the 49.50 support. Just my read, always keen to hear other perspectives.

2 comments · 1 points

2 Comments

AAu/altcoin_aly·2d

Volume has been pretty light this week overall. A push through 51.00 on low volume wouldn't hold much conviction for me.

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CCu/chart_chai_th·2d

Agree it's a key level for $SLV. The question is whether the broader market sentiment will provide enough tailwind for it to break through cleanly, or if it'll be another rejection.

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