Silver(XAG/USD) technical breakdown, bearish structure remains until it recovers $64… downside target is in the $60 range

Short-term Support Breaks, Signaling Stronger Additional Selling

The price was directly impacted by profit-taking at its historical high, causing traders to abandon the key support levels that technical analysts have emphasized. Once the 100-hour Simple Moving Average(SMA) at $62.50 was broken downward, the ‘pivot reference line’ that had supported the short-term upward trend was lost.

During the Asian session on Tuesday, the price fell below the mid-$62 range, recording a decline of over 2.5% for the day alone. This is not a simple retracement but close to a breakdown of a technical resistance zone. The oscillators on the 1-hour chart are also showing negative momentum, raising further concerns. This suggests the possibility of a chain of additional sell-offs.

The Physical Path of the Decline: Sequential Tests at 62.00 → 61.45 → 60.80 → 60.00

From a technical perspective, the future decline path appears relatively clear. Each level is not just a target to “necessarily reach,” but rather, each support level, once broken, becomes a new decision point for traders.

Step 1: $62.00(Round Figure)

• The first defense line, a psychological integer and a stop-loss reference for short-term traders
• Breakdown here could accelerate momentum toward the next target

Step 2: $61.45(Next Technical Support)

• A partial correction zone within the medium-term upward trend
• An area where a rebound attempt could occur

Step 3: $60.80(Last Friday’s Swing Low)

• A true technical breakdown signal, exceeding the recent weekly price fluctuation range
• A psychological signal point for additional short position entries

Psychological Bottom: $60.00

• A resistance zone driven by the psychological impact of the number itself
• Potential formation of a large buy condition among long-term traders

Key to Invalidating the Bearish Scenario: ‘Acceptance(Acceptance)’ at $64.00

To distinguish whether the current situation is a simple correction or a trend reversal, certain conditions must be met. The core is to confirm a stable acceptance flow above $64.00(.

If this zone is regained:

• The sell-dominant structure begins to weaken
• Technical basis for a retest of the all-time high at $64.65) is established
• Breaking through $64.65( leads to a renewed upward scenario testing the psychological resistance at $65.00

In essence, this is a classic inflection point) phase where, although technical breakdowns have favored the bearish side, the overall trend could reverse depending on whether the $64 recovery occurs. As the support from technical fundamentals and the resistance from psychological pressure collide precisely at this juncture, market reactions here are likely to determine the medium-term trend moving forward.