Silver Price Outlook: XAG/USD remains steady below the $77.00 mark, with the 100-period SMA on the four-hour chart continuing to act as a crucial support level.

• Silver finds it difficult to build on its modest gains during the Asian session near the $79.00 level.
• The overall technical picture continues to favor bearish sentiment, supporting the possibility of additional downside.
• However, a decisive move below the channel support is required to confirm the bearish outlook.

Silver (XAG/USD) came under renewed selling pressure after a mild uptick during the Asian session toward the $79.00 area, slipping to a fresh intraday low over the past hour. The metal appears to have paused its rebound from the previous session’s one-and-a-half-week low, although it continues to hold relatively firm above the $77.00 level.

From a technical standpoint, the recent break below the 100-period Simple Moving Average (SMA) on the four-hour chart keeps the near-term bias tilted in favor of bears, despite the broader uptrend remaining intact within a rising parallel channel. The lower boundary of the channel around $74.60 serves as key structural support, while the 100-period SMA near $78.02 now acts as immediate resistance against recovery attempts.

Momentum indicators also point to lingering weakness. The Relative Strength Index (RSI) is hovering near 39, while the Moving Average Convergence Divergence (MACD) remains in negative territory, signaling subdued buying momentum and a downside bias within the current range. Still, sellers would likely need a decisive break beneath channel support to strengthen the bearish case.

A confirmed move below the ascending channel floor near $74.60 could undermine the broader bullish structure and trigger a deeper corrective decline. Conversely, a sustained recovery above the 100-period SMA on the four-hour timeframe may pave the way for further upside toward channel resistance around $90.44.

H4 chart