Silver Price Approaches Final Barrier: Sky Is the Limit Above $100

Silver has been an interesting story lately.

On January 29, the metal printed a historic high at $121 per ounce, which marked a fresh all-time record. The move was explosive and many investors didn’t expect it. But the euphoria did not last long. By February 6, silver had collapsed to $64, wiping out nearly half of its value in just days.

That kind of drawdown would normally break structure. It didn’t.

Now silver is trading back near $94, reclaiming ground with surprising strength. The rebound has been steady, not chaotic. And with price pressing into a major technical zone, one analyst believes the next breakout could be decisive.

That analyst is Rashad Hajiyev, a well-followed market commentator on X who has stayed constructive on silver through the volatility.

He shared a chart and a clear message:

“Previously broken support suggests that silver is going to have a resistance above $100 level. Once it clears it, there is going to be only one technical resistance at all time higher and that is it. Then the sky is the limit…”

Let’s break down what that actually means.

The $100 Level: Why It Matters So Much for the Silver Price

Hajiyev’s chart shows a long-term rising trendline that has supported silver’s broader bull structure. That dotted diagonal support held through multiple higher lows before the sharp February crash sliced through it.

That breakdown turned prior support into future resistance.

This is basic market structure: when a strong support level fails, it often becomes a ceiling on the way back up. In this case, that ceiling sits just above the $100 mark.

Psychologically, $100 is already a huge round number. Technically, it aligns with the former support zone that broke during the selloff. That combination makes it a powerful barrier.

Silver is now approaching that zone from below.

If the silver price stalls near $100, it would confirm the textbook retest of broken support. Sellers who got trapped near the highs may use this level to exit. Short-term traders could fade the move. That’s the first scenario.

But Hajiyev’s bigger point is about what happens if silver clears it cleanly.

Source: X/@hajiyev_rashad

Above $100: Only One Wall Left

Looking at the broader structure on his chart, there is very little historical resistance between $100 and the all-time high at $121.

The reason is simple. The surge to $121 was fast and vertical. There was no long consolidation between $100 and the peak. That means there aren’t many trapped sellers sitting in that zone waiting to get out.

In technical terms, it’s thin air.

If the silver price pushes through $100 with strong volume and holds above it, the next obvious reference point becomes the record high itself. And beyond $121, price discovery begins.

That’s where the “sky is the limit” comment comes from.

It doesn’t mean silver goes straight up forever. It means that once price moves into territory with no historical overhead supply, resistance becomes harder to define. Markets tend to accelerate in those phases because traders anchor to round numbers and momentum.

There’s another subtle detail in the chart.

Despite the violent drop to $64, the broader rising structure from late 2024 remains intact. Silver did not break the long-term bullish sequence of higher lows on the larger timeframe. The crash was dramatic, but structurally it looks like a deep correction inside an ongoing uptrend.

That context is important.

Silver has already proven buyers are willing to step in aggressively on dips. The rebound from $64 to $94 was not slow. It was decisive. That tells us demand did not disappear after the blow-off top.

Now everything compresses into the $100 test.

A rejection there could lead to consolidation in the $85–$95 range before another attempt. A clean breakout would put $121 back in focus very quickly.

For now, silver is standing right in front of what may be its final technical barrier before new highs.

And if the breakout comes, momentum traders will not wait long to react.

Read also: The Critical Week Ahead Will Decide Whether Silver Price Pushes Above $130 or Revisits $70