Silver Confirms Bearish H Pattern After Failing Near $71
The post Silver Confirms Bearish H Pattern After Failing Near $71 appeared on BitcoinEthereumNews.com.
Silver-linked assets were put back in perspective of a sudden technical decline as the markets in short-term structure changed. According to recent chart indications, the selling action is increasing, whereas more market price indicators indicate that the market is correcting following a long-term and overheated run-up. Short-term Structure Indicate $SLV Breakdown In another X post, Elite Swing Traders pointed out that there was a bearish H completed pattern on the daily chart of the iShares Silver Trust. The trend that developed following the stagnation of prices in the zone of $70.50–$71.00, wherein the purchasing energy lost its strength after an impressive gain. The initial sell-off drove $SLV into the mid-$66 level, which established the left side of the structure. Analyst announced a completed bearish H pattern on the $SLV daily chart after the price was viable near the $71: X (Feb 2026): Elite Swing Traders An attempt at a rebound was unsuccessful around the level of $69 and $70, which completed the right side of the pattern and assured leadership of the sellers. $SLV at that time was trading at around $68.23, having reached a peak of $70.52 and a low of $65.51. Technical signals were in line with the price action. The short-term moving average reversed and dropped below the medium-term average, and the price went down and below the two. Candles were mostly red with wide bodies, meaning that they may indicate a long-lasting selling interest. The longer-term moving average has moved to the area around $65-$66, now serving as the next area of reference. Longer-Term Silver Pattern Plunges into Volatility Reset Phase Additionally, the short-term structure became weak, but compared to long-term pricing, the picture is different. The silver one-year data indicates that there is a positive uptrend that started following months of silver consolidation between $30…
Filed under: News - @ February 6, 2026 11:27 pm