- Silver price eyes all-time high of $85.87.
- The 14-day RSI at 70.66 signals overbought conditions.
- The nine-day EMA at $77.94 offers the primary support.
Silver price (XAG/USD) gains ground for the second consecutive day, trading around $84.30 per troy ounce during the early 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, indicating a sustained bullish bias.
The 14-day Relative Strength Index (RSI) at 70.66 (overbought) signals extended strength that could prompt near-term consolidation. Silver price holds well above the nine-day Exponential Moving Average (EMA) and the 50-day EMA, keeping the bullish bias intact. The short-term moving average continues to rise above the medium-term moving average, confirming short-term momentum.
On the upside, the Silver price could test the record high of $85.87, which was recorded on December 29, 2025, followed by the upper boundary of the ascending channel around $88.40.
The initial support lies at the nine-day EMA of $77.94, followed by the lower ascending channel boundary around $76.40. A daily close below the confluence support zone would expose the 50-day base at $64.39.
