Silver's recent market trend still shows some potential. From the peak of 64.658, it has been declining, and now a double-top pattern is forming—this overbought signal should be watched.
Currently, it depends on whether the price can hold the recent upward trendline and moving average support. If it drops further, the entire short-term bullish structure will need to be reassessed.
However, the moving average system is still in a bullish alignment, so friends who are directly shorting should be more cautious. Those with higher risk tolerance can consider opening a short position if the price rebounds to the resistance zone of 63.6-63; once signs of overbought conditions appear, open a small position with a stop loss above 64.7. Focus on the target levels of 61.5 and 60.5 below.
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GasFeeWhisperer
· 12-16 04:00
Hey, multiple tops make me feel anxious. Those who didn’t jump in at 64.658 must regret it now.
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When a sign of stagnation appears, you have to run; otherwise, you’re only losing your own money.
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The moving averages are still supporting, don’t rush to open a short position in the opposite direction, it sounds like a trap.
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Try a small position on the rebound around 63.6-63; anyway, stop-losses are set. It’s not impossible for the price to drop below 60.
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The bullish arrangement is still holding up. Going short aggressively now is really just throwing a tantrum.
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I’m optimistic about the 61.5 level. If it really breaks below, there will be no support left.
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hodl_therapist
· 12-15 12:51
64.658 That wave is indeed interesting, but the current pattern looks a bit weak. I need to wait for a rebound confirmation before taking action.
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FlashLoanPhantom
· 12-15 02:40
64.658 I also saw the top of that wave. Currently, this double top is indeed a bit dangerous, and the signs of stagnation are too obvious.
To be honest, it's still better to wait and see if we can hold the moving averages. If you ask me, friends who are already shorting, it's better not to rush; this rhythm is a bit off.
If there is stagnation during the rebound at the 63.6-63 level, a light position testing the waters is okay, but the stop loss must be firmly set above 64.7; this cannot be overlooked. Keep an eye on 61.5 and 60.5 below, and don’t be impatient.
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TooScaredToSell
· 12-15 02:39
Multiple tops are brewing, this rhythm feels a bit familiar. Last time, doing this directly broke through the support line, and I lost everything.
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GamefiHarvester
· 12-15 02:32
It's indeed interesting around the 64 mark, but I still have to wait and see, afraid of being crushed.
Silver's recent market trend still shows some potential. From the peak of 64.658, it has been declining, and now a double-top pattern is forming—this overbought signal should be watched.
Currently, it depends on whether the price can hold the recent upward trendline and moving average support. If it drops further, the entire short-term bullish structure will need to be reassessed.
However, the moving average system is still in a bullish alignment, so friends who are directly shorting should be more cautious. Those with higher risk tolerance can consider opening a short position if the price rebounds to the resistance zone of 63.6-63; once signs of overbought conditions appear, open a small position with a stop loss above 64.7. Focus on the target levels of 61.5 and 60.5 below.
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