Eun value, post-peak adjustment signals technical fatigue... $64.00 support is crucial

Technical overheating is driving a correction in silver(XAG/USD). During Thursday’s Asian session, silver dipped around $65.70, showing a partial retreat from the previous rally.

The RSI on the daily chart has entered overbought territory, accelerating profit-taking(profit realization). However, the prevailing view is that this correction does not signify a trend reversal. The bullish momentum that successfully broke through the $64.00 level remains valid, and a 1% intraday decline is considered a natural “technical pause” after a sharp rise.

What the technical indicators are telling us

The spot price is fluctuating in the $65.75~$65.70 range. More noteworthy is the change in role of the 100-hour SMA(short-term moving average). Since breaking through $64.00 yesterday, this level has shifted from a simple resistance to a key support.

1-hour timeframe momentum conditions:

• RSI: 59.95, maintaining a neutral to mildly bullish zone
• MACD: below the zero line, with a potential crossover on the horizon
• Technical cooling: momentum has temporarily weakened

The structure that short-term traders are paying attention to is dynamic. As long as the 100-hour SMA maintains an upward slope, holding above this line could reframe any correction as a buying opportunity at lower prices.

Scenario analysis

Bullish continuation scenario: Successfully defend above the 100-hour SMA → MACD re-enters positive territory → RSI recovers above 50 → correction ends and price resumes upward

Downside risk: Failure to hold above the 100-hour SMA → deeper pullback below $64.00(below $64.00) → increased short-term bearishness

Conclusion: The current correction appears to be a normal price structuring process following overheating. If the $64.00 level is firmly maintained, the bullish trend is expected to strengthen further.