The silver price has managed to recover from its recent lows, but not everyone is convinced the market is ready for another major rally. Prof Investor believes many silver bulls are getting ahead of themselves. His message was simple: until the silver price breaks above $68, the bigger bullish case remains unconfirmed.
Silver is trading at $63.64 after dropping 5.23% on the latest weekly candle. During the week, it hit a high of $68.11 before falling back to $63.51. That rejection near resistance is a big reason analysts are still cautious, even with the bounce from the $60 area.
What you'll learn 👉
Silver’s Recovery Is Running Into Resistance
Silver has come a long way over the past two years. It climbed from roughly $12 in 2024 to nearly $120 at its peak in early 2026 before entering a major correction. We analysed the silver chart shared by Prof, and the correction looks like it’s forming a descending wedge pattern.
That happens when the market makes lower highs and lower lows that gradually converge. A lot of traders see this as a potential bullish reversal setup, but the key word is “potential.” Nothing’s confirmed yet. The breakout still needs to happen.
Right now, the silver price is trading inside that wedge and remains below the major resistance trendline. Buyers have successfully defended the $60 support area, but resistance continues to cap every rally attempt.
Why $68 Is the Level Silver Bulls Need to Beat
The level Prof Investor is focused on is $68, and the chart shows why. Silver traded as high as $68.11 during the latest weekly range but couldn’t hold above it. That area lines up closely with the downtrend resistance that’s been controlling the market since the correction started.
As long as silver remains below that level, the broader trend remains questionable. A clean break above $68 would put the next resistance near $70.51 into focus. From there, traders could begin looking toward higher targets.
Until that happens, every rally attempt is still running into the same problem: resistance has not been cleared.
The Bigger Downtrend Hasn’t Been Broken Yet
One reason analysts remain cautious is that the larger correction from $120 has not fully ended. The silver price is still trading below several major resistance zones created during the decline. Even though the market has bounced from $60, it has not reclaimed the levels needed to confirm a new uptrend.
Support begins at $60, which has become one of the most important levels on the chart. Below that, traders will likely focus on $56, $52, and $48. If selling pressure increases, $44 and $40 become the next major areas to watch.
The weekly S1 structure marker identifies the current area as a support zone, which helps explain why buyers have defended it so aggressively. Even so, holding support is only one part of the equation. The market still needs to break resistance.
What Happens if Silver Finally Clears $68?
A breakout above $68 would be a big step forward for silver. The next target would likely be $70.51, the upper boundary of the wedge structure. If buyers push through that, the chart opens up toward $80, followed by $90 and $100.
Above $100, traders would begin looking at $108.85 and eventually the previous peak near $120. For now, the silver price remains stuck between a well-defined support zone around $60 and a major resistance area near $68.
Bulls have succeeded in keeping the market off its lows, but the breakout everyone is waiting for has not happened yet. Until the silver price clears $68 and holds above it, many analysts believe it is too early to call the correction over.
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