The price of silver, denoted by XAG/USD, continues its upward momentum, holding firm above the mid-$32.00 level and aiming for the $35.00 mark. Currently, silver is trading within a tight range during the Asian trading session, hovering around the mid-$32.00s, representing its highest level in over a week achieved recently. This positive trend indicates a bullish sentiment prevailing in the market, suggesting a potential extension of the ongoing uptrend.

In recent sessions, silver has experienced a rebound from levels below $31.00, nearing the 100-day Exponential Moving Average (EMA). Technical indicators on the daily chart are showing signs of turning positive, reinforcing the optimistic outlook for XAG/USD. Consequently, there is a likelihood of further upward movement beyond the $33.00 level towards the monthly high of around $33.40.

Looking ahead, the next significant resistance levels for silver are anticipated around $33.60-$33.70, followed by a climb towards the $34.00 mark and eventually targeting the $34.50-$34.55 resistance zone. If the bullish momentum persists, silver could potentially challenge the multi-year high near $35.00, previously reached in October 2024.

On the downside, immediate support is seen at the $32.30-$32.25 range, which coincides with the recent swing low. Further support levels lie at $32.00 and $31.80, below which a decline towards the $31.25-$31.20 region is probable. This path could lead to a test of the 100-day EMA positioned around $31.10-$31.00 and the previous week’s low near $30.80.

A breach below these levels might shift the market sentiment in favor of bears, potentially driving XAG/USD towards $30.00 and the $29.55-$29.50 support zone, or even the year-to-date low established in January.

In conclusion, the silver market is currently poised for further gains, with a positive bias prevailing as it eyes the critical $35.00 level. Traders are advised to closely monitor key resistance and support levels to gauge the future trajectory of XAG/USD amidst ongoing market dynamics and price fluctuations.