Silver price is trading around $54 after one of the ugliest corrections of its 2026 run, but analyst Rashad Hajiyev believes the larger bullish structure is still intact. His argument comes d
Silver price is trading around $54 after one of the ugliest corrections of its 2026 run, but analyst Rashad Hajiyev believes the larger bullish structure is still intact.
His argument comes down to one level: $50.
Hajiyev says silver is pulling back toward the 2011 high after breaking above a multi-decade ceiling earlier in the cycle. In his view, the old resistance area could now become support.
“Only if silver does not hold around $50, I could change my view,” he wrote, calling $50 the “red line” for the setup.
That gives us a very clear way to judge the thesis.
The silver chart goes back to 2009 and shows silver’s famous 2011 peak near $50.
For more than a decade, that area remained untouched.
Silver finally broke above it during the 2026 rally and eventually traded far beyond the old record before the current correction dragged XAG back toward the mid-$50s.
Hajiyev is treating this as a classic breakout-and-retest structure.
Old resistance near $50 becomes potential new support.
Source: X/@hajiyev_rashad
His drawn path allows silver to dip toward that region, form a bottom and then begin rebuilding through several waves.
The projection eventually reaches the $90-$100 area, although the arrow should be viewed as a scenario rather than a precise forecast.
The analyst even notes that silver may never actually touch $50. The point is that, in his framework, remaining above that zone keeps the larger bullish thesis alive.
The timing is interesting because silver remains close to its recent lows.
XAG/USD traded around $54.02 on Monday, October 26, only slightly higher on the day after finishing Friday near $53.92. Silver is also down roughly 24% since the start of 2026.
The macro environment has also been difficult.
High oil prices have kept inflation fears alive and pushed markets to rethink how quickly the Federal Reserve can ease policy. Brent has now pulled back roughly 2% toward $114, which offers some relief, but energy remains expensive.
The Fed decision on October 28 is the next big event.
Current pricing points to only about a 9% probability of a rate increase this week, but markets assign roughly an 80% chance to another hike in December. High rates are usually difficult for precious metals because investors can earn attractive yields elsewhere.
There is at least one positive change today: lower oil has cooled some inflation anxiety, helping both gold and silver recover slightly ahead of the Fed meeting.
Read also: Here’s Why Gold and Silver Prices Are Getting Wrecked Right Now
I think Hajiyev’s setup is one of the cleaner long-term silver charts because it gives us an obvious invalidation area instead of simply projecting a huge target.
If silver remains above roughly $50, the old 2011 high can still function as the base for another recovery.
I would first watch $56-$58.
A move through that zone could open $60-$62, followed by the upper-$60s and $70s if momentum returns.
Only after those levels are reclaimed would Hajiyev’s larger $90-$100 scenario become something I would take seriously.
If $50 fails on a sustained basis, I would be far less comfortable with the bullish interpretation.
Scenario Silver price path Bullish Hold $50-$54 → $58 → $60-$62 Stronger recovery Break $62 → $70-$75 Long-term bullish case Rebuild above $75 → $90-$100 Bearish Lose $50 → long-term breakout thesis weakensI believe $50 is a better level to watch than trying to guess whether silver has already bottomed at $53-$54.
The market can easily bounce before reaching it.
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The post Analyst’s Silver Price Prediction Puts $50 at the Center of the Next Move appeared first on CaptainAltcoin.
