Active silver sell-off gives way to accumulation phase

As of March 30, 2026, silver prices are consolidating near $70.15 following a recent decline.

Last week, a test of the $60.90 support level drew heavy trading volumes, signaling the end of an active sell-off phase. The precious metal rebounded, and a “hammer” pattern emerged on the chart. Now, during a consolidation phase, transaction volumes have thinned, confirming that the aggressive selling has run its course and the market appears ready to accumulate positions.

Multiple technical indicators tell the same story. Bollinger Bands point to calming volatility. The lower line has just slowed its decline and is now leveling off. The channel itself is narrowing. Silver prices are stuck between the bottom band ($64.37) and the middle one ($78.57), with no new lows—a typical hint at a shift in power from sellers to buyers.

The Chaikin Oscillator sits in positive territory, aiming at higher levels. Such a setup suggests the current range-bound trend carries a bullish bias, which is an underlying sign of accumulation. Although the indicator’s rise is still weak and does not signal strong momentum, the fact that it remains above zero while the price stagnates outlines buyer interest.

The fundamental picture remains rather mixed. The ongoing Middle East crisis and surging US inflation increase the likelihood of the Federal Reserve’s (Fed) rate hikes—bad news for silver, which generates no yield. Nevertheless, some asset managers view current levels as an attractive entry point. Commerzbank analysts, for instance, believe that bullion’s downside is fragile, as stagflation risks have historically benefited precious metals.

The final piece of the puzzle could be Donald Trump's April 6 deadline on Middle East negotiations. Positive developments with Iran could deal a blow to the dollar, paving the way for a rebound in silver prices.

Try out the trading plan outlined below:

Buy silver at current levels near $70.00. Place Take profit at $76.50 and Stop loss at $65.00.

The forecast remains valid from March 30 till April 6, 2026.