The silver price is back in focus after a massive move that caught a lot of traders off guard. After breaking out from a formation that had been building for over two decades, silver didn’t just move, it had a rally.
At one point, the silver price had climbed nearly 400% from its breakout level, which is pretty wild when you stop and think about it. And even after coming down from those highs, it’s still holding at strong levels. It hasn’t just erased the move, and that says a lot about the underlying strength.
That’s exactly why analysts like Rashad Hajiyev are starting to ask the obvious question. If silver managed a run like that once, what’s really stopping it from doing it again? It’s a bold take, but when you look at the chart, you can see why it’s coming up.
What you'll learn 👉
The Breakout That Changed Everything
To understand the current setup, you have to go back and look at the bigger picture. For nearly 20 years, the silver price was trapped inside a massive tightening range. It kept making higher lows and lower highs, slowly compressing into what’s known as an ascending triangle.
We had a look at the chart shared by Rashad Hajiyev, and the breakout around late 2024 to early 2025 stands out as a major turning point. Once silver pushed above that long-standing resistance, it quickly climbed from around $28 to well over $120 at its peak. That kind of move doesn’t happen often, especially in a market like silver.
Even after pulling back, the silver price is still trading around $73, which is far above the original breakout zone. That alone keeps the overall structure looking strong.
Why This Consolidation Matters for Silver
After a big move like that, some cooling off is expected. The move down from that $120+ peak might look pretty dramatic at first glance, but when you zoom out a bit, it actually looks more like the market taking a breather.
Right now, the silver price seems to be settling in around the $70 range, and that level is starting to matter. As long as it holds, the bigger trend still looks intact. This kind of consolidation phase often comes before the next leg higher, especially after a breakout of this scale.
What makes this setup interesting is how closely it mirrors previous cycles. Back then, silver also went through long periods of compression before making explosive moves. The idea here is simple: if the structure remains similar, the outcome might not be so different either.
The Case for Another Big Move for Silver
This is where the bold predictions come in. Some analysts believe that once this consolidation phase ends, the silver price could aim much higher, potentially toward $250 or even $300.
That might sound extreme, but it’s based on the scale of the breakout pattern. When a market spends decades building pressure, the moves that follow can be far larger than expected. The previous rally already showed what’s possible, with gains reaching up to 400% at the peak.
Of course, no move happens in a straight line. The market still needs to prove it can hold key support levels and attract fresh buying interest. But the foundation for a larger move is already in place.
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What Could Go Wrong
Even with the strong structure, there are risks to keep in mind. The spike to $120+ came with a lot of volatility, and the pullback that followed shows that sellers are still active.
If the silver price loses the $70 level, the next area to watch would be somewhere in the $50–$60 range. That doesn’t break the long-term trend, but it would mean more time is needed before any major move higher.
The silver price has already made one historic move after breaking out of a 20-year formation. Now, it’s going through a consolidation phase that could decide what comes next.
If the pattern holds and buyers step in at these levels, the idea of another large rally isn’t as far-fetched as it might seem. It won’t happen overnight, but the setup is there. And if history ends up repeating itself, silver could be gearing up for another move that catches the market by surprise.
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