Silver is approaching what could become one of its most important technical tests in months.
The metal is trading around $51 after spending roughly two and a half months inside a descending structure that has repeatedly rejected attempts to recover.
Analyst Rashad Hajiyev believes that could soon change.
His latest chart shows silver approaching the upper boundary of its downtrend, and he argues that a successful breakout next week could open a path toward just under $70 before the end of 2026.
From $51, that would represent gains of roughly 33%.
What you'll learn 👉
Silver Is Running Out of Room Inside the Downtrend
Hajiyev’s chart shows silver declining inside a broad descending channel after its explosive run above $100 earlier this year.
Each recovery has produced a lower high, keeping the larger correction intact.
More recently, silver formed an even steeper short-term descending trend inside that larger structure.
Price has now fallen back toward the lower part of the channel around $49-$51.
That makes the current setup interesting.
The chart suggests silver may first test the lower boundary before attempting to break the long-running descending resistance above it.
If buyers can push through that resistance, the structure would change from a series of lower highs into the first real attempt at a larger reversal.
$55-$61 Comes Before $70
The $70 target is not the next resistance silver faces.
Recent technical analysis places the first important hurdle around $55. A break above that level would expose the October 21 high near $58.18, followed by the 50-day and 100-day moving averages around $60.65-$60.99.
That gives Hajiyev’s roadmap several checkpoints.
First, silver needs to hold the $49-$50 area.
Then it needs to break the descending resistance and reclaim $55.
After that, the $58-$61 region becomes the next major test.
Only a sustained move through those levels would make the $68-$70 zone considerably more realistic. Other technical analysis also identifies roughly $68-$70 as an important longer-term resistance area.
Read also: Silver Price Prediction: Analyst Who Called the Last Silver Crash Says $45 Comes Next
Can Silver Really Reach $70 This Year?
Mathematically, the move is large but not impossible for silver.
A rise from $51 to $70 is roughly 37% based on exact prices, or around one-third using Hajiyev’s rounded calculation.
Silver has already shown this year that it can produce extremely large moves in relatively short periods.
But the chart does not justify jumping directly to $70 yet.
The much more useful signal would be silver breaking the 2.5-month descending resistance and then holding above $55.
If that happens, $58-$61 becomes the next battlefield.
Clear that region, and Hajiyev’s year-end $70 target begins to look much less extreme.
For now, silver is still inside the downtrend.
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