• Critical resistance emerges at $39.13,dogecoin price prediction a level not seen since the post-2011 rally period.

• Market sentiment remains favorable as the RSI maintains its position in bullish territory.

• The nine-day EMA provides immediate support near the $37.79 price point.

The silver market demonstrates resilience as XAG/USD consolidates near $38.20 per troy ounce during early week trading. Technical evaluation reveals the white metal continues its upward trajectory within a well-defined ascending channel, reinforcing the current positive market sentiment.

Market technicians note the 14-day Relative Strength Index holding firmly above the neutral 50 mark, confirming sustained buying interest. The price action maintaining levels above the short-term moving average further validates the constructive technical setup for silver bulls.

Market participants are closely monitoring the $39.13 resistance level, last tested in mid-July. A decisive move beyond this barrier could potentially open the path toward the $41.50 psychological level, coinciding with the channel's upper boundary.

On the flip side, initial downside protection appears at the nine-day EMA near $37.79, with additional support emerging along the channel's lower trendline around $37.20. Should selling pressure intensify, the 50-day EMA at $35.91 becomes the next focal point for market participants. A breach below this level might shift the technical landscape, potentially testing the May lows near $31.65.

XAG/USD Technical Landscape

Market observers continue to analyze the evolving technical patterns in silver markets, with particular attention to the interplay between momentum indicators and key price levels that could dictate near-term direction.