Silver Price Forecast: Testing Resistance Amid Bearish Pressure
By Bruce Powers | Updated: March 31, 2026
Overview
Silver is currently facing significant resistance levels as it tests the 10-day and 100-day moving averages. The recent price action indicates a shift from previous support levels to resistance, suggesting a continuation of bearish momentum.
Current Market Conditions
Silver has been under pressure, with bearish momentum increasing over the past few days. The first notable resistance test occurred on Wednesday, where the price struggled near the 100-day moving average. This resistance is further validated by the top line of a rising trend channel, indicating a critical price level.
Technical Analysis
Crossover Signals
On Monday, the 10-day moving average crossed below the 100-day moving average for the first time since February 2025, confirming bearish momentum in the market.
Downside Targets
Unless silver can decisively break above the previous high of $74.57, it is likely to reverse from the upper side of the channel and move towards the lower boundary. The 200-day moving average, currently near $58.30, serves as a critical support level and potential target for further declines.
Short-Term Patterns
There is no clear short-term pattern at present, but a decline below the previous swing low of $64.06 would signal further weakening. The rising 200-day average may intersect with this low, indicating a potential breach of key trend indicators.
Measured Move Analysis
The second leg down from the January peak of $121.67 may have further to fall, potentially mirroring the magnitude of the first leg down. A 78.6% retracement of the first leg suggests an initial target of $51.88, which is below both the uptrend line and the 200-day average, indicating strong downward pressure.
Conclusion
Silver's current market dynamics suggest a challenging environment for bulls, with significant resistance levels and bearish momentum indicating potential further declines. Traders should remain vigilant and consider these technical indicators when making investment decisions.