Silver Price Outlook: XAG/USD climbs back above $80.00 as the bullish trend points to additional upside.

• Silver extends its rally for a third consecutive session and stays poised to post weekly gains.
• The broader technical outlook continues to support bullish momentum and suggests further upside potential.
• Any notable pullback is likely to attract dip buyers and could remain relatively limited.

Silver (XAG/USD) rebounds after an Asian-session dip below $78.00, reversing part of the previous session’s late decline from a near three-week peak. The metal regains the $80.00 psychological level and remains set for strong weekly gains.

From a technical standpoint, the bias stays constructive as price holds above the 100-period SMA and has recovered the 50% Fibonacci retracement of the March decline. Momentum signals also support the bullish view, with RSI near 68 and MACD remaining above the zero line—indicating buyers still dominate despite emerging overbought conditions.

That said, a sustained break above the 61.8% Fibonacci level and a move beyond $83.00 would be needed to confirm the next leg higher. If achieved, upside targets shift toward the 78.6% retracement near $88.83 and the previous swing high around $96.44.

On the downside, initial support sits at $78.66 (50% retracement), followed by the 100-period SMA near $76.26 and the 38.2% level around $74.47, where dip-buying interest may re-emerge before the broader uptrend is challenged.

H4 Chart of Silver