Silver under pressure ahead of weekly close

📉 XAGUSD Silver Analysis | Has the correction ended or is it still continuing?
Time frame: 4 hours | Date: January 30, 2026

Silver, which is currently experiencing a sharp and rapid decline after a strong rally into the $120 per ounce area, is back and trading around $98.7 today, coinciding with the weekly and monthly US market closes, making this trading day crucial in determining the direction of February.

🔍 General technical reading

Long-term trend: Bullish

Short-term trend: strong correction

Current Downtrend: A Sharp Correction in an Uptrend (Healthy Correction)
It is not considered a trend break yet.

🟢Main support areas (according to chart)

$98.00 – $96.50
🔥 Very strong demand areas
represent:

0.5 Fibonacci level (97.54)

previous horizontal support

Potential assembly area

$94.30
Fibonacci support level 0.382

$90.30
Main support (0.236)
Breaking it will only change the situation in the short term.

🔴Resistance Zone

$101.00
Psychological and artistic resistance

$105.40
0.786 Fibonacci level

$112.00 – $113.00
Strong resistance

$120.00
the last summit

📊 Expected scenarios
🔼 Frontal scene (closest so far)

Stability above 96.50 – 98.00

Weekly and monthly closings above 97.50

Target:

101.00

105.40
✔ Confirm that declines are corrected only in uptrends.

🔁 Fluctuations

Lateral movement between:

96.50

101.00

The accumulation phase before a new trend.

🔻 Negative scenes

Definite breakout and close below 96.00

Target:

94.30

Then 90.30
As long as the price is above 88-90, it remains within a broader correction range.

💡Important Tips

For traders:

Avoid late selling after a sharp decline.

Better to wait:

stable signal

Or it is clear that the closing price is above the support level.

For physical silver holders:

The current decline is not an exit signal.

Areas 95-98 represent smart cluster opportunities in the long-term vision.

✅ Conclusion

📌 The $96.5 – $98 area holds the key to the next trend.
Today’s close will clearly determine whether silver resumes its gains or enters a deeper correction.