The precious metals market is witnessing the craziest moments in history as Silver officially breaks through the resistance level of $110 to establish a new peak.$XAG
🔷 According to real-time data, Silver has made a spectacular breakthrough:
- The price has reached $110.40, officially breaking through the extremely strong three-digit psychological barrier.
The price is trading around $109.36, recording a growth of +5.55% for the day.
In just 24 hours, Silver has fluctuated nearly 10 points, indicating that buying power is completely dominating.
🔶 When Silver has entered the Price Discovery state, target levels will be based on crowd psychology and round number thresholds:
- Target $115 - $120: These are the next psychological resistance levels. With the current steep upward momentum, hitting $115 is entirely feasible if FOMO money continues to flow in.
- If the Short side tries to block at $110 but fails, their forced Buy to cover will be the fuel that drives the price up to $120 quickly.
🔷 Although the upward trend is very strong, investors need to be cautious:
- The price is far from the long-term moving average, and the profit-taking pressure in the $110 - $112 area will be very fierce.
- If the short-term support level of $108.58 (MA7) is lost, the price may quickly adjust to the $105 area to "gain momentum."
The sky above $110 is wide open, but the higher it goes, the stronger the wind. Buckle up!