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Silver experienced a sharp reversal two weeks ago, falling more than 40% from its all-time high. This correction was largely anticipated, as a higher-degree retracement was expected following the metal’s extraordinary surge of over 300% from the April 2025 swing lows.
Analyzing the smaller 4-hour timeframe, the current decline appears impulsive, suggesting that the downward move is not yet complete. However, the price may stabilize around the support area near $70, which could trigger a short-term rebound as traders cover positions after the steep decline.
XAGUSD(silver) 4H Chart
It’s important to note that any rebound from this support could represent only a wave B in a larger corrective pattern. Resistance is likely to appear between $92 and $100. Beyond that level, the risk of another downward leg remains, as the market seems to be in the midst of a higher-degree fourth-wave corrective retracement.
Traders should remain cautious and monitor these key levels closely, as the ongoing correction may continue to shape silver’s near-term price action.
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