Where Is Silver Price Headed Next? Another Short Squeeze Brewing as Demand Outpaces Supply by 50M Oz
Silver price climbed above $80 per ounce today, reaching $80.65 at press time. That is the highest level since mid‑March. Gold also remains strong above $4,800, providing a tailwind for the white metal. Silver is finally tagging along after weeks of underperformance.
The pump above $80 comes with a fundamental backdrop that could fuel a much larger move. The global silver market is set for its sixth straight year of deficit in 2026. Demand now exceeds supply by roughly 50 million ounces.
A tweet from Wall Street Mav shows the growing imbalance. The global silver market is ripe for another “squeeze” that could send the price soaring. The market is forecast to suffer its sixth straight year of deficit in 2026, with total demand outpacing supply.
The global silver market is ripe for another “squeeze” that could send the price soaring.
— Wall Street Mav (@WallStreetMav) April 16, 2026
The market is forecast to suffer its sixth straight year of deficit in 2026, with total demand outpacing supply
Silver demand will exceed global supply by about 50 million oz in 2026. pic.twitter.com/yzTJkSVLOk
Silver demand will exceed global supply by about 50 million ounces in 2026. That is a structural deficit, not a temporary blip. Industrial demand, especially from solar and EVs, continues to rise while mine supply remains stagnant. A squeeze becomes more likely when physical tightness meets speculative interest.
Read also: How High Can Silver Price Go This New Week?
Silver Price Prediction – What’s Next? Chart Analysis
We analyzed the silver chart from TradingView hows silver trading at 80.65369, virtually unchanged in the last candle. The 200‑day moving average sits far below at 61.02569, which basically confirms that the long‑term trend remains bullish. Price is trading well above that key level.
Recent price action shows a clean breakout above the $78‑$80 resistance zone. Silver has printed higher lows since early April. The move from $72 to $80 happened with increasing momentum.
Immediate support now sits at $78.50, followed by $76.00. Resistance above is at $84.00, then $88.00, and eventually $92.00. The RSI (14) reads 68.00, down slightly from 65.67. That is not overbought (above 70 would be). There is room for more upside before reaching extreme levels.
Bullish silver price prediction: If silver holds above $80 for a daily close, the next target is $84‑$85 within a week. A sustained squeeze could push price toward $92‑$95 by early May.
Bearish silver price prediction: A failure to hold $80 could send silver back to test $76‑$78. A break below $76 would invalidate the breakout and target $72 again.
Overall, Silver’s pump above $80 aligns with a historic supply deficit. The squeeze narrative has real fundamentals behind it this time. Traders should watch the $80 level closely – holding it opens the door to $90 and beyond.
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