Silver’s Parabolic Rally Collapses 48% as Traders Eye Key Support Levels
Silver prices cratered 48% from recent highs in a violent reversal of its parabolic rally. The XAGUSD pair now tests critical support after forming a textbook blow-off top on 4-hour charts—a classic exhaustion signal following vertical gains.
Market participants are scrutinizing the $67-$72 range for SLV (iShares Silver Trust), where compression suggests a decisive breakout or breakdown looms. The sell-off reflects profit-taking and forced liquidation, with volatile candles indicating unstable equilibrium.
Meanwhile, cryptocurrency traders monitor the spillover effect into hard assets. Bitcoin (BTC) and ethereum (ETH) remain bid despite the precious metals rout, reinforcing digital assets' divergence from traditional safe havens.