Silver Price Forecast: Analysts Still See a Path From $81 to $121 Despite the Pullback

The silver price has been all over the place lately. After climbing close to the $90 level, silver suddenly reversed and dropped nearly 10% in a brutal sell-off that caught many traders off guard.

That kind of move naturally created panic across the market, especially for traders who bought near the highs. But despite the sharp decline, some analysts still believe the bigger bullish trend has not changed at all.

The bigger silver trend still looks bullish

Prominent analyst Dr. Potassium, said the latest pullback should not automatically scare investors into thinking silver is about to collapse into a deeper bear market. In his view, the correction looks more like another higher low forming inside a larger uptrend that has been developing for months.

His long-term chart points toward much higher levels later on, including a possible move toward the $112-$121 range if the silver price eventually breaks through the major resistance levels standing in the way.

Silver continues trading inside a rising channel that has been guiding the market higher for months. The latest decline happened after the silver price rallied aggressively throughout 2026 and became overheated near the $88-$90 area.

That is exactly the kind of emotional buying analyst Rashad Hajiyev warned about after the market started dumping. He pointed out that many investors tend to avoid buying during corrections but become eager buyers again after strong rallies already happen.

The silver price eventually fell from near $90 down toward the low $80s in a very short period of time. Even so, the market is still holding above one of its key long-term support trendlines, which is why many traders are not fully bearish yet.

Dr. Potassium believes this drop may simply become another healthy reset before the next move higher begins. His chart outlines several resistance zones the silver price still needs to reclaim first.

The first resistance area sits between roughly $85 and $90. Above that, traders are watching another supply zone between $90 and $96. The much bigger breakout area comes later between around $101 and $106. If silver eventually breaks above that region cleanly, analysts believe the path toward the $112-$121 target zone becomes much more realistic. 

The $80-$81 zone is becoming the most important level

Short-term charts show just how aggressive the sell-off became. We had a look at the intraday silver chart shared by SilverTrade, and the market experienced a waterfall-style collapse during the trading session. 

The silver price dropped from above $85 down toward the $81 area after sellers completely took control late in the day. At one point, silver lost almost 4% during a single session, which is a very large move for a metal market.

Still, buyers eventually started stepping back in near the $81 area, which many traders viewed as an important test. Vince Lanci had previously identified the $80.77 level as critical support, and for now, the market has managed to stay above it.

That support zone is now becoming one of the biggest levels traders are watching. If the silver price starts forming higher lows above $80-$81, many traders will likely view the latest drop as a temporary reset after an overheated rally. But if silver loses that area decisively, another move lower toward the mid-$70s becomes much more possible.

Macro news is still pushing the silver price around

The silver price movement is also highly dependent on macroeconomic events at the moment. Market participants are paying close attention to statements made by Presidents Donald Trump and Xi Jinping amid emerging geopolitical problems with Taiwan and Iran.

On top of that, recent data from the USA showed that prices for imports and exports rose unexpectedly fast. Costs for fuel imports grew, export prices went up, and traders started reducing bets on interest rate cuts from the Federal Reserve later this year.

Traders currently price close to 30% odds of a Fed rate increase before December. This, of course, has an adverse effect on metal performance as higher yields and dollar strength reduce silver/gold demand in the short run.

But silver price still remains supported by industrial demand for electronics, solar energy, and other green economy initiatives. Despite the ongoing volatility and higher import tariffs imposed by India for precious metals from 6% to 15%, analysts see silver trading in a range of $75-$81 in 2019.

Can the silver price still reach $121?

The current silver price lies in a tug-of-war between the panic caused by the recent pullback and the bullish outlook that is still present in the bigger scheme of things. The recent pullback has taken care of the last lot of overzealous investors near the $90 level.

As long as silver continues defending the major support area near $78-$81, many traders still believe the broader uptrend remains alive. The next challenge is reclaiming the resistance zones between $85 and $90 before the market can even start thinking about the much larger breakout zone between $101 and $106.

If silver eventually pushes through those levels, analysts believe the path toward the $112-$121 range could open much faster than most traders expect right now. CoinCodex’s 1-month silver price prediction places the price at $89.46, which is slightly above the current silver price and lines up with the bullish outlook many traders still have despite the recent pullback.