Silver has been on a bit of a rollercoaster lately. After a strong push higher earlier this year, the silver price suddenly hit a rough patch. The market sold off hard, momentum cooled down fast, and it felt like bulls completely lost control for a moment.
But here’s the interesting part. The chart is starting to look a lot less bearish than it did just a couple of weeks ago. Instead of continuing to free-fall, the Silver price is beginning to steady itself, and traders are starting to notice the early signs of a potential reversal.
Silver Is No Longer Making Fresh Lows
The cleanest thing on this chart shared by Rashad Hajiyev is the shift in structure. After that nasty dump from the $120 area, silver printed a deep low in the mid-$60s (around $66–$68), then snapped back and started carving out a new base.
The latest dip didn’t break that low, it held around $76–$77, and the price is now sitting near $77.39. That “higher low” is exactly what traders want to see when a down-move starts losing control.
The next fight is the descending trendline that’s been swatting down every bounce since the sell-off. On this chart, that ceiling is sitting in the $84–$86 zone.
Silver has already tried to push into that area before and got rejected, so it’s not a random line, it’s the level that decides whether this is just another bounce or the start of a real reversal.
If silver can get a clean break and hold above $85-ish, the chart opens up fast. The first obvious upside area is the prior swing zone around $90, and after that, the next big magnet sits closer to $96. If the trendline holds again, it’s back to watching the $76–$77 support band, because losing that higher low would put the recovery attempt on pause.
A Breakout Could Lead to a Fast Upside Move
Right now, the setup is pretty clear. Silver has a higher low forming, price is compressing under resistance, and the structure looks like it’s tightening up for the next big move.
That doesn’t guarantee a breakout, but this is exactly the kind of pattern that often shows up near major turning points. If buyers step in and silver clears resistance, the next upside push could happen quickly.
For now, the Silver price is sitting at a really interesting crossroads, and this chart pattern is why traders are starting to pay attention again.
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