Silver Price Consolidates Near $64 as Analysts Monitor Bear Market Risks

The silver price has been consolidating around $64.11 after failing to break through its weekly high, according to TradingView data.

XAGUSD, which tracks the price of silver, has been trading sideways within a bear market range, with analysts monitoring for potential support levels.

Cali XAUUSD notes that the larger trend of silver remains unchanged and is still in a sell trend, with a resistance level at $65-$66 range. If sellers defend this area, Cali projects a move lower to the low-$50s.

Dr. Romeet Saha adopts a longer time horizon, showing silver within a wide downward channel that consists of several swings over months. His chart highlights support targets in the high $50s area below the current price and near the $57 level.