Where Is Silver Price Headed Next? Another Short Squeeze Brewing as Demand Outpaces Supply by 50M Oz

Silver price climbed above $80 per ounce today, reaching $80.65 at press time. That is the highest level since mid‑March. Gold also remains strong above $4,800, providing a tailwind for the white metal. Silver is finally tagging along after weeks of underperformance.

The pump above $80 comes with a fundamental backdrop that could fuel a much larger move. The global silver market is set for its sixth straight year of deficit in 2026. Demand now exceeds supply by roughly 50 million ounces.

A tweet from Wall Street Mav shows the growing imbalance. The global silver market is ripe for another “squeeze” that could send the price soaring. The market is forecast to suffer its sixth straight year of deficit in 2026, with total demand outpacing supply.

Silver demand will exceed global supply by about 50 million ounces in 2026. That is a structural deficit, not a temporary blip. Industrial demand, especially from solar and EVs, continues to rise while mine supply remains stagnant. A squeeze becomes more likely when physical tightness meets speculative interest.

Read also: How High Can Silver Price Go This New Week?

Silver Price Prediction – What’s Next? Chart Analysis

We analyzed the silver chart from TradingView hows silver trading at 80.65369, virtually unchanged in the last candle. The 200‑day moving average sits far below at 61.02569, which basically confirms that the long‑term trend remains bullish. Price is trading well above that key level.

Recent price action shows a clean breakout above the $78‑$80 resistance zone. Silver has printed higher lows since early April. The move from $72 to $80 happened with increasing momentum.

Immediate support now sits at $78.50, followed by $76.00. Resistance above is at $84.00, then $88.00, and eventually $92.00. The RSI (14) reads 68.00, down slightly from 65.67. That is not overbought (above 70 would be). There is room for more upside before reaching extreme levels.

Bullish silver price prediction: If silver holds above $80 for a daily close, the next target is $84‑$85 within a week. A sustained squeeze could push price toward $92‑$95 by early May.

Bearish silver price prediction: A failure to hold $80 could send silver back to test $76‑$78. A break below $76 would invalidate the breakout and target $72 again.

Overall, Silver’s pump above $80 aligns with a historic supply deficit. The squeeze narrative has real fundamentals behind it this time. Traders should watch the $80 level closely – holding it opens the door to $90 and beyond.

FAQs

Will silver price go down

Silver could see short‑term pullbacks to $78 or $76, but the structural deficit and bullish trend make a major crash unlikely.

Why is silver price increasing

Silver is rising due to six straight years of supply deficit, strong industrial demand from solar and EVs, and a breakout above key resistance at $80.

What is the 1 kg silver price

At $80.65 per troy ounce, one kilogram (32.15 troy ounces) of silver costs approximately $2,593 or 2,200 Euros.