Silver price has struggled to hold recent rebounds, and analyst Nonzee believes the rate outlook could keep pressure on silver for longer.
His latest chart argues that silver buyers were trapped around $70 after another failed recovery.
Nonzee points to a sequence of three lower highs, roughly $118, $89 and $70, as evidence that each rebound has been weaker than the one before it.
That structure keeps his focus on lower support zones.
What you'll learn 👉
Nonzee Maps $55-$50 as the First Bottoming Area
Nonzee ties his silver outlook closely to Federal Reserve policy.
Markets entered 2026 expecting rate cuts, but the Fed has already raised rates and additional hikes remain possible.
For silver, that matters because higher rates can support the dollar and increase the opportunity cost of holding precious metals.
His roadmap has two main scenarios.
If the total tightening cycle ends with two hikes, he expects silver to look for a bottom around $55 to $50.
🚨 SILVER BUYERS GOT TRAPPED AT $70, EXACTLY AS I WARNED. $70 rejected. Three rallies. Three lower highs. $118 → $89 → $70. Every recovery has failed below the previous one. The rate outlook is why I’m still watching lower. Markets entered 2026 expecting three cuts. The Fed has already hiked, and more increases are still in play. The question now is how far this tightening goes. My roadmap: – Two hikes in total: $55-50 is my first bottoming zone – Three or more: the downside extends to $50-40 That is a $10 gap between the two setups. Silver trades at $60 today, and neither scenario tells me where buyers will actually hold the line. I’m watching for rate expectations to stabilize. My entry will be posted here first. Follow and turn notifications on.
— Nonzee (@0xNonceSense) October 9, 2026
If the Fed delivers three or more hikes, he believes the decline could extend toward $50 to $40.
The chart marks those two zones clearly, with the higher support band around $50-$55 and a deeper area around $40-$45.
The Chart Still Looks Weak
Silver is trading near $60 on the chart, meaning price is already much closer to the first support zone than to the recent $70 rejection.
The bearish case comes from the pattern of lower highs.
Each major recovery has stalled below the previous peak, which keeps the broader structure under pressure.
The first important test is therefore around $55.
If buyers step in there and rate expectations begin stabilizing, silver could start building a stronger base.
If that area fails, $50 becomes the next major level, followed by the $40-$45 region under a more aggressive tightening scenario.
Read also: Gold and Silver Price Crash: Peter Schiff Says Traders Are Getting It Wrong
Silver Price Outlook
Nonzee’s silver chart is bearish in the short term, but his outlook is not calling for a straight-line collapse.
He is waiting for rate expectations to settle before identifying a stronger entry.
That makes sense because silver is trading more like a macro asset right now than a purely technical one.
If Treasury yields and Fed hike expectations cool, silver could recover quickly.
If rates remain elevated or expectations shift toward more tightening, the $55-$50 zone becomes important.
For now, $70 looks like another failed recovery, and $55 is the next major area bulls need to defend.
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