Silver extended its powerful rally on Monday, gaining strong upward momentum and smashing its way to a brand-new all-time high during Asian trading. The metal’s surge keeps bullish sentiment firmly in control, though analysts warn traders to stay alert as technical indicators flash “overbought” signals.
Silver Charges to Fresh Record, Bulls Stay in Control
Silver (XAG/USD) continued its impressive uptrend, jumping to an unprecedented level around $69.45, as momentum traders piled in. The broader technical picture still leans heavily in favor of buyers, suggesting the path forward may continue upward.
After repeatedly bouncing from the 100-hour Simple Moving Average (SMA) over the past couple of weeks, (XAG/USD) finally broke through a crucial resistance zone near $66.40–$66.50 last week — a key trigger that energized bullish traders. Another push above the $67.20–$67.25 area on Friday further strengthened the positive outlook. As of now, SILVR is trading near $69.25, up roughly 3% for the day.
Silver Breaks Major Resistance Levels — Bullish Momentum Accelerates
After holding key moving averages for weeks, SILVR has finally broken critical resistance, triggering aggressive bullish interest and strengthening upside momentum.
Support held — bulls stayed in control
SILVR repeatedly bounced off the 100-hour Simple Moving Average (SMA) over the past couple of weeks — signaling strong underlying demand.
Breakout confirmed
The bullish tone intensified after price broke through the $66.40–$66.50 resistance zone last week, followed by another strong move above $67.20–$67.25 on Friday.
Where price stands now
Silver (XAG/USD) is currently trading near $69.25, up roughly 3% for the day — reinforcing an increasingly positive short-term outlook.
Momentum Looks Strong — But Conditions Are “Stretched”
That said, some caution signs are flashing. The Relative Strength Index (RSI) on both hourly and daily charts is sitting above 70, typically a warning that prices may be overheating in the short term.
Even so, the trend remains clearly upward. Silver continues to trade comfortably above the 100-hour SMA, now near $65.57, reinforcing strong near-term support. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator sits at 0.19 in positive territory and is still rising, signaling strengthening bullish momentum.
Trend Remains Strong — Key Support and Momentum Signals Stay Bullish
Silver continues to maintain upside strength, trading comfortably above key moving averages while momentum indicators support an extended bullish bias.
Trend direction
Despite market fluctuations, the broader trend remains clearly upward, with price action continuing to firm rather than weaken.
Support still intact
SILVR is holding comfortably above the 100-hour SMA, currently around $65.57 — reinforcing strong near-term support and signaling resilient demand.
Momentum strength
The MACD indicator remains in positive territory near 0.19 and continues to rise — indicating strengthening bullish momentum and follow-through confidence.
What Traders Are Watching Next
As long as XAG/USD stays above that rising 100-period SMA, buyers are expected to keep control. Any pullback toward $65.57 would likely test dynamic support. A clean push beyond today’s highs could open the door to even more gains, while slipping below the average might spark a deeper correction.
(This technical analysis includes an AI-assisted assessment.)
(This story was corrected on December 22 at 07:36 GMT to clarify that the RSI — not “overnight” conditions — signals caution before placing new bullish bets.)
