Saad Ullah
Silver has taken a beating lately, dropping hard from its recent highs and failing to bounce back with any real conviction. What looked like a promising rally near 121.7 turned into a sharp selloff that pushed prices down to the low 80s—and they haven't recovered since. The metal is now stuck in consolidation mode, with sellers clearly in control and buyers nowhere to be found.
Silver Crashes from 121.7 Peak to Low 80s
Silver peaked near 121.7 before sellers stepped in aggressively, triggering a steep decline that sent prices tumbling toward the low 80 region. That initial drop changed everything—what was once a bullish setup quickly turned bearish as demand dried up and supply pressure took over.
Since then, the metal has been trying to stabilize, but every recovery attempt has been met with fresh selling. Price action shows lower highs forming beneath a descending trendline, with the market now grinding sideways in the 83 to 85 zone. It's classic consolidation after a dump—buyers aren't strong enough to push higher, and sellers are waiting for the next leg down.
As one analyst noted, "Subsequent candles have not reclaimed prior support, leaving price below the breakdown area and maintaining supply dominance."
This kind of structure usually signals that the momentum has shifted. When a sharp selloff like this happens and recovery attempts keep failing, it tells you that participation dynamics have changed. The bulls are hesitant, and the bears are comfortable holding their positions.
Market Structure Shows Continued Weakness
The chart makes it pretty clear—sellers are running the show right now. After that big bearish candle triggered the selloff, Silver hasn't been able to reclaim any meaningful ground. Price remains stuck below the breakdown level, with resistance sitting overhead near recent highs.
Similar weakness has been noted across the precious metals space. Related analysis highlighted that silver stalls at resistance and broader pressure was observed as silver holds above 80 support.
What This Means for Traders
For anyone watching Silver, the message is straightforward: downside pressure is still active. Until price reclaims resistance and breaks above that descending trendline, the path of least resistance remains lower. A recovery above the breakdown zone would be needed to shift the structure back in favor of buyers.
Saad Ullah
