Silver Price Plunges Below 200-Day EMA, Triggers Bearish Warning

Silver prices continued their downward trend on Wednesday, September 2, falling to its lowest level in over two weeks. The XAG/USD pair broke below its 200-day exponential moving average (EMA), a significant technical indicator that suggests further decline.

The price of silver stood at $63.63 per ounce, down 0.67% on the session after a 3.5% drop on Tuesday. The bearish move has returned silver below both its 50-day and 200-day EMAs, with the latter sitting at $65.39.

According to the article's author, a daily close below $61.15 would activate the next support level at $55.42, roughly 13% below the current price. Losing this shelf would expose the October 2025 area near $45.40, for a decline of about 29%.

On the other hand, a recovery through $70.05 would negate the latest breakdown and force another test of the August high near $72. The article notes that a daily close back above the 200-day EMA at $65.39 would be the first warning for bears.