Silver Price Forecast: Long-Term Support Faces Critical Test

Author: Bruce Powers

Published: June 22, 2026

Overview

The article discusses the current state of silver prices, which are facing significant pressure as they remain below key long-term trend indicators. Traders are closely monitoring the situation for signs of either a bullish reversal or a deeper breakdown in prices.

Current Market Conditions

Silver is currently trading below two critical long-term trend indicators: the uptrend line and the 200-day moving average. Recent price action has shown these indicators failing as support, yet there has not been substantial bearish follow-through. A support zone exists between the 200-day moving average at approximately $69.08 and the March spike low of $61.01. Although silver has not yet tested this support zone, the presence of buyers indicates underlying demand, keeping the long-term support intact.

Technical Analysis

As of the latest trading session, silver is on track to close below the 200-day moving average for the fourth consecutive day and below the uptrend line for the third straight session, indicating weakness. This marks the first significant test of these long-term indicators since they were reclaimed in early April 2025. The recent price fluctuations have created uncertainty, with silver trading around the 200-day moving average.

Support and Resistance Levels

A corrective low of $61.51 was reached two weeks ago, which is a slightly higher swing low compared to the March decline. This week also formed a potentially bullish doji hammer candlestick pattern, suggesting that if support holds within the March 2025 price zone, buyers may become more aggressive, increasing the chances of a bullish reversal.

The weekly chart reinforces the significance of the 50-week moving average, currently near $63.64, as a support level. A decisive break below this area would confirm a loss of long-term support and strengthen the bearish outlook. Conversely, if silver can recover key near-term resistance levels, such as the 20-day moving average at $70.16 and the recent lower swing high at $71.56, it may reclaim the long-term trend indicators and improve the overall market outlook.

Conclusion

In summary, silver is at a critical juncture, with long-term support being tested. The market is watching closely for signs of a reversal or further decline. The ability to hold above key support levels will be crucial for the future direction of silver prices.