At press time, Silver price was trading at $51.150 with an intraday loss of 0.68%. Silver price has been in a bearish trend and has dropped by roughly 60% from the 2026 high. The price was heading towards a crucial support zone of $46 at the time of writing. If the price manages to defend this zone, then it could be a bullish signal. If the candlestick forms any bullish candlestick in this zone on a daily timeframe, then a bullish momentum can be seen.
Once Silver price exceeds the immediate resistance level of $54.45, then a short-term bullish momentum can be expected. Conversely, if the XAU/USD price slips below the support zone of $46, then sellers could lead the bearish trend.