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Silver (XAG) Plunges Nearly 6% as Sellers Dominate Short-Term Trading

Silver (XAG) Plunges Nearly 6% as Sellers Dominate Short-Term Trading

Author:

Global Cryptocurrency

Published:

2026-04-02 19:36:02

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BTCCSquare news:

Silver prices tumbled sharply, with XAG dropping 5.71% to $70.792 as sellers overwhelmed buyers during Thursday's session. The metal failed to hold gains near the $75-$76 resistance zone, reversing sharply to test support near $69.60.

Trading volumes remained elevated during the decline, with 174.26K ticks recorded on the daily chart. The breakdown below key moving averages suggests building downward pressure, putting the $68-$70 support area in focus.

Market participants are now weighing whether this represents a temporary pullback or the start of a deeper correction following March's selloff. Regaining the $74.80-$76.30 resistance zone appears necessary for bulls to regain control.

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