Technical Analysis Summary - Silver and Bitcoin

Silver Market Update

On August 20, 2026, silver prices rose by 2%, reaching a price of $69.289 per ounce, despite a rebound in the U.S. dollar. This increase in silver prices was supported by the U.S. Treasury Department's announcement of an intervention in the Treasury market aimed at lowering yields. Interestingly, the stronger-than-expected U.S. macroeconomic data did not hinder silver's upward movement.

Silver has broken above a significant resistance level, specifically the 200-session Exponential Moving Average (EMA200). Analysts suggest that if silver clears the $70 per ounce barrier, the next resistance level could be around $78. Conversely, the $65–66 area is identified as a crucial support zone should there be a decline in short-term momentum.

Bitcoin Market Update

On the same day, Bitcoin experienced a notable gain of 7%, testing the $80,000 mark. This surge in Bitcoin's price indicates a strong bullish sentiment in the cryptocurrency market, with technical analysis suggesting that Bitcoin is challenging significant resistance levels.

Other Market Highlights

Additional market updates include silver testing the $70 mark and breaking key resistance levels, as well as European PMIs coming in stronger than expected, which has implications for the EUR/USD currency pair approaching the 1.17 level. Furthermore, Bitcoin's recent performance has seen it breach the $75,000 mark, challenging the 300-EMA for the first time since January 2026.