{"id":24200,"date":"2026-03-24T20:35:09","date_gmt":"2026-03-24T20:35:09","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=24200"},"modified":"2026-03-24T20:35:11","modified_gmt":"2026-03-24T20:35:11","slug":"silver-prices-near-200-sma","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/silver-prices-near-200-sma\/","title":{"rendered":"Silver Prices Swing Near 200 SMA [XAGUSD Elliott Wave]"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Executive Summary<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Silver prices (XAGUSD) declined about 50% from the all-time high to yesterday\u2019s low.<br><\/li>\n\n\n\n<li>A 61.8% Fibonacci wave relationship also appeared near yesterday\u2019s low.<br><\/li>\n\n\n\n<li>200 Day Simple Moving Average sits near $57.63.<\/li>\n<\/ul>\n\n\n\n<p>Silver has declined hard over the past few sessions reaching a low of $61.01.<\/p>\n\n\n\n<p>The minimum waves are in place to consider the downtrend over, but the structure of the rally has yet to confirm a major low is in place.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Current Elliott Wave Analysis<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"630\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08-1024x630.png\" alt=\"\" class=\"wp-image-24201\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08-1024x630.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08-300x185.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08-768x473.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08-1536x945.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/XAGUSD_2026-03-24_15-26-08.png 1545w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Silver (XAGUSD) prices have been declining in a wave (4). Within <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott Wave Theory<\/a>, the impulse pattern consists of 5-subwaves. When wave (4) completes, then wave (5) would be a rally to retest all-time highs.<\/p>\n\n\n\n<p>How can we be sure that wave (4) is over?<\/p>\n\n\n\n<p>First, consider the depth and time taken for wave (4) to carve compared to its cousin wave (2).<\/p>\n\n\n\n<p>Wave (2) corrected nearly 19% over 117 daily price bars. This wave (4) has corrected nearly 50% over 37 price bars.&nbsp;<\/p>\n\n\n\n<p>It is common for wave (4) and wave (2) to alternate in their pattern. Wave (2) was a sideways flat and (4) was a sharp double zigzag. Therefore, it makes sense that (4) was quicker and deeper than (2).<\/p>\n\n\n\n<p>Wave (4) also pushed near the 200-day <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/simple-moving-average\/\">simple moving average<\/a>. Over a long uptrend, the 200 SMA is often viewed as a level of value where sellers stop selling and buyers step in.<\/p>\n\n\n\n<p>&nbsp;Additionally, there are a couple different wave relationships showing up during this 2026 decline.<\/p>\n\n\n\n<p>The 50% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement<\/a> level hovers near $58.69. Plus, the 61.8% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension<\/a> where wave Y of (4) is 61.8% the length of wave W of (4).<\/p>\n\n\n\n<p>Between $57 &#8211; $65 there were a few different technical levels propping up silver.<\/p>\n\n\n\n<p>Though the minimum waves can be counted in place, it would not be uncommon to see silver dig a little deeper into that support zone.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Silver remains in a larger degree uptrend and the correction in 2026 appears to be a temporary digestion of the 2025 gain.<\/p>\n\n\n\n<p>Once wave (4) is completed, then a bullish rally in wave (5) will likely retest all-time highs and push into even higher levels.<\/p>\n\n\n\n<p>A break below the 200 SMA <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support<\/a> at $57.63 would be a cause to pause and reconsider the Elliott wave count.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover Silver Elliott Wave analysis as the trend is considered bullish. We are anticipating an eventual rally to new all-time highs.<\/p>\n","protected":false},"author":160,"featured_media":24207,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-24200","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Silver Prices Swing Near 200 SMA [XAGUSD Elliott Wave] - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Discover Silver Elliott Wave analysis as the trend is considered bullish. 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