Silver prices decreased to $32.54 after failing to maintain the $33.00 threshold, reflecting potential downside risks if the $32.00 support does not hold. The next resistance point is noted at $33.20, while key support is located at the 100-day SMA around $31.12.

On Friday, Silver’s price lost ground despite lower US yields, with the 10-year T-note yields falling almost eight basis points to 4.431%. The XAG/USD pair shows a decrease of 1.20%, suggesting weakening bullish momentum as indicated by the RSI.

For a continuation of upward movement, buyers need to surpass the February 20 high of $33.20. If successful, the next target will be the February 14 peak at $33.39, ahead of the $34.00 mark.

If the XAG/USD declines below $32.00, it may apply further selling pressure. Initial support lies at the 100-day SMA at $31.12, followed by the 50-day SMA and 200-day SMA at $30.70 and $30.46, respectively.

Silver struggled to hold above $33.00, slipping to $32.54, which raises the possibility of further downward movement if the $32.00 level does not hold. The next hurdle for a rebound sits at $33.20, while a more extensive drop could see prices finding support near the 100-day SMA, currently hovering around $31.12.

Last Friday, the price weakened even as US Treasury yields moved lower, with the 10-year yield declining by nearly eight basis points to 4.431%. This would typically support metals, yet silver still dropped by 1.20% on the day. The Relative Strength Index signals waning bullish enthusiasm, which traders should take into account before expecting another rally.

For buyers to regain control in the near term, prices must climb past $33.20, a level last hit on 20 February. Should this threshold be cleared, attention will turn to $33.39, the peak from 14 February, and beyond that, the psychological marker at $34.00.

If support at $32.00 fails, the probability of further declines increases. Investors should monitor the next key areas on the downside, with the 100-day SMA around $31.12 acting as the first line of defence. Below that, additional pressure could emerge near the 50-day and 200-day SMAs at $30.70 and $30.46.

With technical indicators reflecting slower momentum, traders should assess whether buyers can step back in soon or if further weakness will unfold.