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Silver has delivered both excitement and anxiety— surging higher in a volatile run and then stunning traders with a dramatic one-day selloff. 
Since that shakeout, the metal has begun to stabilize, moving into a period of consolidation that could define its next major trend.
While the price action has been intense, the bigger picture for silver remains constructive.
The underlying fundamentals continue to lean bullish, with supply constraints and steady industrial and investment demand supporting the longer-term outlook.
In other words, the recent volatility has not changed the core story — it has simply reset expectations and levels.
Now that silver is calming down, this is where strategy comes into play.
Consolidation phases often create the best opportunities to develop a clear trading and investment plan rather than reacting emotionally to sharp moves.
The key technical level to watch on the downside is $80, which now becomes an important support zone. Holding above that level keeps the current bullish structure intact.
On the upside, a decisive move over $90 an ounce could signal renewed momentum and attract fresh buying interest. If that breakout occurs, silver has the potential to run back toward $110 or even higher over time.
As always, in Mish’s Market Minute, price leads the narrative — and silver’s next chapter will be written by how it behaves around these critical levels.
In this video, topics covered:
- Silver’s recent volatility and sharp selloff
- Why the bullish supply–demand story remains intact
- What consolidation means for traders and investors
- Key support level to watch: $80
- Breakout trigger: above $90
- Potential upside target: $110+