Silver Price Forecast: XAG/USD rises to near $72.50 due to bullish bias
Silver price may rise toward the upper ascending channel boundary around $83.10.
The 14-day Relative Strength Index at 66.57 signals bullish momentum without reaching overbought levels.
The immediate support lies at the nine-day Exponential Moving Average of $72.38.
Silver price (XAG/USD) gains nearly 4%, trading around $75.50 during the European hours on Monday. The technical analysis of the daily chart timeframe suggests the price of the precious metal remains within an ascending channel pattern, suggesting a persistent bullish bias.
The 14-day Relative Strength Index (RSI) at 66.57 remains bullish without entering overbought territory. RSI has turned higher again, reinforcing improving bullish pressure.
The nine-day Exponential Moving Average (EMA) rises well above the 50-day EMA, and the XAG/USD pair holds over both, preserving an upward bias. Both averages maintain positive slopes after a sustained advance. Momentum stays supportive while the metal consolidates above the rising nine-day EMA, keeping the path of least resistance to the upside.
The short-term average remains bullish and keeps the topside in focus, and opens a path toward resistance at the upper boundary of the ascending channel around $83.10. A break above the channel would help the Silver price to approach the record high of $85.87, which was recorded on December 29, 2025.
On the downside, the immediate support aligns at the nine-day EMA of $72.38, followed by the lower ascending channel boundary around $72.10. A daily close below the channel would open a correction toward the 50-day EMA at $60.85.
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