Silver is still holding onto a big upside target, but the path to get there isn’t clean yet. Right now, the market is stuck in a correction phase, and price is still moving within that structure.
Based on the chart, the current move looks like a classic wave 4 correction. After a strong push higher in wave 3, price started pulling back in a W-X-Y pattern.
The first drop (W) already played out, followed by a bounce (X). Now, the silver price is moving through the final leg, which is the Y wave. This matters because it means the correction might not be fully done yet.
However, one thing stands out clearly on the chart, the red descending trendline.
The silver price has been sitting below it for a while now, and every attempt to move higher gets pushed back down. That’s a sign that sellers are still in control in the short term.
As long as silver stays below that line, it’s hard to say the correction is over. The market is still in a “wait and see” phase.
But once that trendline breaks, the picture changes quickly.
What Happens to Silver Price If the Break Comes
If price manages to break above that red trendline, it would be the first real sign that wave 4 is done. That would open the door for wave 5, which is usually the final push in the trend.
And that’s where the $150 target comes in. Wave 5 moves can be strong, especially after a long correction like this. If momentum picks up, silver could start moving fast once the breakout happens.
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However, in the short term, there could still be one more dip before things turn around. The chart even shows a possible move lower before a strong bounce.
That’s normal in this kind of structure. But zoom out, and the bigger picture hasn’t changed much. The trend is still pointing higher, just delayed by this correction.
Right now, the silver price is still stuck under resistance, and the correction isn’t fully over. But the setup is building.
The key level to watch is that descending trendline. Once price breaks above it, the next phase could start, and that’s where the move toward $150 begins to make more sense.
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