Silver Price Forecast: Bulls Target $90.00 as Momentum Accelerates
- Technical Breakthrough: Silver has recently broken above several short-term resistance levels, with technical indicators signaling enhanced bullish momentum as the RSI enters bullish territory, leading traders to eye $90.00 as the next psychological target, indicating a shift in market dynamics.
- Market Drivers: A weakening US dollar and expectations of more accommodative monetary policy from central banks have made dollar-denominated commodities more attractive, while robust industrial demand for silver due to global energy transition efforts provides a fundamental support for prices.
- Geopolitical and Inflation Pressures: Ongoing geopolitical uncertainties and inflation concerns have driven safe-haven flows into precious metals, with silver often outperforming gold during heightened market anxiety, creating a favorable environment for silver bulls.
- Investor Strategy: Long-term investors should consider increasing their exposure to silver due to its unique role in hedging against inflation and supply chain disruptions, while short-term traders need to manage risk carefully using stop-loss orders to navigate inevitable price fluctuations.
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Technical Analysis for MMT
Technical Sentiment Analysis for Momentum (MMT). As of , Momentum (MMT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MMT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MMT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Momentum (MMT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.101 | 0.116 | 0.129 | 0.144 | 0.157 | 0.172 | 0.185 |
| Fibonacci | 0.116 | 0.127 | 0.134 | 0.144 | 0.155 | 0.162 | 0.172 |
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