Saad Ullah
Silver has been quietly building strength in recent weeks, capturing the attention of traders and investors who see potential for significant gains ahead. With the precious metal showing resilience amid market volatility and benefiting from its dual role as both a safe-haven asset and industrial commodity, many are wondering if we're witnessing the early stages of a major bull run that could reshape silver's price trajectory for years to come.
Silver (XAG) Price Holds Above Key Levels
Silver is currently sitting at $40.72, up 2.54% for the day, as buyers continue to show confidence in the metal. The monthly chart paints a clear picture of strength, with silver steadily climbing toward important resistance zones that haven't been tested in quite some time.
Prominent trader @CryptoTony__ has been vocal about silver's potential, suggesting that the current setup looks like the beginning of a "huge bull run." With investors increasingly turning to precious metals as protection against inflation and economic uncertainty, silver is getting more attention than it has in years.
Silver (XAG) Price Targets to Watch
The technical picture reveals several important levels that could determine silver's next moves:
Immediate Support: $39.50 – this level needs to hold for the bullish trend to stay on track.
Mid-Term Resistance: $44.00 – $48.00 – expect some serious battles in this zone as sellers might step in.
Long-Term Target: $52.00 – this aligns with key technical projections and could confirm a major breakout.
A clean break above $44.00 could really open the floodgates, potentially sending silver racing toward $50 and higher.
The wave patterns suggest silver might just be getting started with this upward move. Both big money and everyday investors are getting interested, which is providing solid support for higher prices. With ongoing economic uncertainties and inflation concerns still in play, silver could be one of the standout performers in the commodities space.
If this momentum keeps building, silver could be gearing up for a multi-year rally that takes it well beyond previous highs, potentially breaking into completely new territory above $52.
Saad Ullah
