Sergey Diakov
Silver is pressing against a long-standing descending trendline, placing the market at a critical technical juncture. The breakout from a two-month wedge formation could open the path toward the $90–$96 range - a move that may unfold quickly if the structure resolves to the upside, according to analyst Rashad Hajiyev.
The Silver Wedge That Defined Recent Price Action
The chart clearly shows a contracting wedge formed after a sharp decline from the highs near $120.
Price has since been compressed between a descending resistance line and a slightly rising support base - a classic consolidation structure that technical traders watch closely.
Tightening volatility reflects a market where both buyers and sellers gradually lose dominance.
This type of formation reflects exactly that dynamic. Similar compression setups in silver have been widely observed during consolidation phases that precede expansion moves. The repeated pattern of lower highs confirms that sellers have maintained control, but the inability to push significantly lower highlights weakening downside pressure.
Silver Tests $90 Breakout Zone at Upper Trendline
Price is now sitting directly at the upper boundary of the wedge - a zone that has rejected multiple attempts in the past. The circled area on the chart emphasizes this moment, where the structure is either about to resolve or fail once again.
This is not yet a confirmed breakout. Instead, it represents a test of resistance, where:
- A sustained move above the descending trendline would confirm a structural shift
- A rejection would keep the wedge intact and prolong consolidation
A decisive move is likely approaching - wedge patterns typically resolve with a sharp expansion once resistance or support gives way.
The tightening range reinforces that view. Silver's triangle setup has previously pointed toward much larger targets, and the current structure fits within that broader technical narrative.
The Path Toward $90–$96 Silver Price Target
The projected move toward the $90–$96 zone aligns with previous price behavior, where silver has repeatedly reacted around similar levels. The target reflects the expected expansion following a breakout from compression.
When price transitions from contraction to momentum, the resulting directional move tends to be rapid once resistance is cleared.
This type of setup has been seen across multiple silver technical structures. Silver's $91 target scenario - contingent on key support holding - mirrors the conditions being tested right now.
However, the condition remains clear: the breakout must hold. Without confirmation above the trendline, the pattern stays unresolved and vulnerable to further sideways movement. Silver is now at a decision point where structure, not speculation, will define the next move.
Sergey Diakov
