Silver drops to $75 as three-month loss nears 15%

The latest on silver prices

According to Investing.com, the XAG/USD pair was trading at $75.515. Over the day, silver climbed as high as $77, only to lose ground under selling pressure. For a time during the session, the price managed to cross above $76.50, but could not maintain this level and eventually slid back down to $75.50.

Last week, silver dropped by 0.61 percent, and its one-month change was nearly flat. However, the three-month chart reveals a significant correction of 14.43 percent. Despite these recent losses, silver’s six-year gains remain impressive with increases of 50.92 percent and 125.38 percent over longer-term periods.

Market specialists view the latest dip in silver as a correction and emphasize that this weakness is occurring within a longer-term bullish trend.

Long-term charts and outlook

Looking at the long-term picture, silver traded in the $30–$40 range last year before soaring to over $110 at the start of this year. Following this sharp rally, prices entered a wide trading band, oscillating between $70 and $90. Recently, with prices hovering around $75, silver is now near the lower end of this range.

Analysts warn that should silver fall below the $70 support, its long-term bullish structure may weaken. Conversely, if the price rebounds to $80, targets of $90 or above could return to focus.

Short-term technical outlook and targets

According to TradingView charts, silver is currently tracking at $75.274, having declined 0.17 percent over the past 24 hours. The Bollinger Band indicator places the upper band at $76.219, the middle band at $75.651, and the lower band at $75.083.

These technical readings suggest silver is gradually finding support in a key short-term zone. If the $75.08 level holds, analysts believe prices could rebound toward $75.65 and then target the $76.21 range. Nonetheless, continued low trading volume and ongoing selling mean any upward movement may remain limited.

Mini glossary: The Bollinger Band is a technical analysis tool that measures price volatility for a financial instrument, plotted with an average and upper and lower limits. When the bands narrow, it indicates price consolidation; when they widen, volatility is increasing.

The MACD indicator continues to show a negative bias. The MACD line stands at -0.117, with the signal line at -0.079. The histogram, now at -0.038, suggests that sellers maintain an advantage in the short run.

In the view of analysts, holding above the $75 level is critical for any short-term recovery in silver. A move below $75 would likely see $74 tested as the next support. On the other hand, a rise above $76.20 could accelerate a short-term uptrend.