Post
TIS_Square
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SILVER CRASHES DRAMATICALLY AS IT NEARS $17 AND CLOSE TO A TRILLION DOLLARS IN MARKET CAPITALIZATION DISAPPEARS
From the dazzling peak last night to this afternoon, the Silver$XAG market has shifted from a state of exhilaration to extreme panic.
A colossal amount of market capitalization has been blown away as the Bears completely take control of the game.
🔷 Data from the charts has shown the severity of this crash:
- Last night, Silver was still trading excitedly at the peak of $121.74/oz.
- With massive selling pressure, the price broke through all support levels, plummeting straight down to the lowest point this afternoon at $103.65/oz.
- Currently, the price is weakly hovering around $104, with no clear signs of recovery.
🔶 Silver has lost up to $18.09 USD/oz in value in less than 24 hours. - Equivalent to a decline of over 14%.
- In just one night, nearly 1,000 Billion Dollars in nominal value of the Silver market has vanished. This is an enormous asset shock for precious metal investors.
The breakdown of the structure occurred after a slight bounce to $118, and the price continued to be pushed down to lower lows, confirming the ongoing downtrend.
The $100/oz level will be the last psychological barrier. If this level is broken, the Silver market may enter a prolonged winter.
From the dazzling peak last night to this afternoon, the Silver$XAG market has shifted from a state of exhilaration to extreme panic.
A colossal amount of market capitalization has been blown away as the Bears completely take control of the game.
🔷 Data from the charts has shown the severity of this crash:
- Last night, Silver was still trading excitedly at the peak of $121.74/oz.
- With massive selling pressure, the price broke through all support levels, plummeting straight down to the lowest point this afternoon at $103.65/oz.
- Currently, the price is weakly hovering around $104, with no clear signs of recovery.
🔶 Silver has lost up to $18.09 USD/oz in value in less than 24 hours. - Equivalent to a decline of over 14%.
- In just one night, nearly 1,000 Billion Dollars in nominal value of the Silver market has vanished. This is an enormous asset shock for precious metal investors.
The breakdown of the structure occurred after a slight bounce to $118, and the price continued to be pushed down to lower lows, confirming the ongoing downtrend.
The $100/oz level will be the last psychological barrier. If this level is broken, the Silver market may enter a prolonged winter.
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