Silver May Test $54.76 Lower Bollinger Band by November

what happened

Silver has resumed its decline after a sharp advance in early 2026. According to Brave New Coin, analyst CyclesFan wrote in a recent X post that the metal could test the lower weekly Bollinger Band at $54.76 by November. Silver is currently trading around 60–65 on the weekly chart, while the price shown on the published chart is $60.82, up 0.74% based on data from October 10, 2026.

The middle Bollinger Band, which tracks the 20-week moving average, remains a key level to monitor. A weekly close above that average would challenge the analyst’s short-term bearish view. After rising toward the $95 area at the end of 2025 and into early 2026, silver underwent a steep correction. Subsequent recoveries have failed to restore the earlier upward momentum.

Selling pressure is also reflected in the Chaikin Money Flow indicator, which moved below the neutral zero line this week to -0.08. A negative reading indicates that selling pressure exceeded buying pressure over the indicator’s timeframe. A move from $60.82 to $54.76 would represent about 10%, but the lower Bollinger Band is a reference level rather than a guaranteed target. Buyers could return as the metal approaches it, before an actual test takes place.

why it matters

For silver markets, the main technical signals are the potential move toward $54.76 and the ability to reclaim the 20-week moving average. Momentum indicators currently point to weakening upside strength, while a sustained recovery above that average would call the bearish scenario into question.

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