[DigitalToday reporter Yoonseo Lee] Silver has climbed to $89 an ounce, confirming an upside breakout, but signals are growing that it could retrace to the $79 range in the short term.

On May 14, blockchain outlet BeInCrypto reported that silver traded near $86.94 on the day and has kept an uptrend on the daily chart after breaking above the top of a descending triangle.

The key point is that signals from the daily and four-hour charts are diverging. On the daily chart, silver broke upward out of a descending triangle on May 7 and rose to near $89, the 0.382 Fibonacci retracement level. That price zone is a resistance line tested again for the first time since February. The relative strength index, or RSI, is also near 70 in a bullish zone, suggesting the medium-term uptrend remains valid.

Short-term charts, however, suggest the pace could slow. Silver has moved within a rising parallel channel since May 4 and is now near the lower end of the channel. There has not yet been a clear break, but the four-hour RSI fell into a neutral zone after dropping below the previous day’s uptrend line. The MACD histogram also turned negative and showed a downward slope.

As a result, the market is discussing 2 scenarios. If it breaks above $89 and holds, room opens for further gains toward the next resistance near $101. If the rising channel breaks down, the correction could extend to near $79, the 0.5 Fibonacci retracement level.

The macro backdrop also remains a variable. Pinam Group analyst Alexander Potavin (알렉산더 포타빈) said silver prices move through a combination of macroeconomics, physical demand and supply constraints rather than any single factor. "Silver prices are affected at the same time by monetary policy easing, industrial demand and limited supply," he said. He added that rate cuts could lift silver if they spur economic activity, but silver is more sensitive than gold in phases of slowdown or recession.

Analyst Remdocan (렘도칸) also cited $83.052 as a near-term pivot point. He said the level is a key low for maintaining the short-term uptrend and that RSI divergence in the same time frame already shows weakening upside momentum. He also pointed to the $96 area as a major decision point on the upside. If daily closes continue above $96, it could extend toward the previous highs, but a rejection there could increase renewed correction pressure, he said.

On the downside, $83 was presented as the line that determines whether the short-term trend remains valid. If that level breaks, the $70 to $65 range could open as the next support area. Remdocan said he sees that zone as strong Fibonacci support and a psychological support level. If a deeper correction emerges, $60 on a daily-chart basis was cited as the price level that defends the long-term rising structure.

Ultimately, the variables the market must confirm now are whether it can hold above $89 and whether it can defend $83. If it moves above $89 on a closing basis, an extension of the uptrend could be confirmed. If it loses $83, the possibility of a correction from $79 to the $70 area could grow. In the medium term, $101 remains the upside target, but in the short term, more weight is being placed on the possibility that slowing momentum will be reflected first.