Silver at Critical Resistance: Rally Could Begin if $68 Breached

Silver prices experienced a sharp correction after hitting an all-time high of $121.64 per ounce in late January and are now attempting to stabilize around $60 per ounce. According to technical analysis, $56 stands out as a key support level, while $68 is being watched as a critical resistance point for a potential acceleration in recovery. A break above this level could trigger a new rally. High interest rates, investor position unwinding, and a temporary slowdown in industrial demand are putting pressure on silver prices. However, a persistent supply deficit in the global market keeps long-term bullish expectations alive. In particular, investments in electric vehicles, 5G infrastructure, artificial intelligence, and solar energy could boost demand for silver and support prices. Investors are closely monitoring whether the $56 support level holds and whether the $68 resistance is breached in the near term. A breakout of these levels could signal the start of a new trend in silver. The long-term outlook remains positive due to growth in industrial demand and supply constraints. This is not investment advice.