Silver traded near $91 as buyers tested a tight resistance band following an overnight A B C drop and a fast rebound. Concurrently, the gold-silver ratio reached a long-term target near 50, while CoinCodex model forecasts indicated a broad 2026 range that includes scenarios exceeding $200.
Silver Futures Hit a Decision Point Near $91 as Rebound Meets Resistance
Silver futures traded near $90.95 on the 15-minute COMEX chart, with a rebound stalling under a tight resistance band defined by Fibonacci retracement levels. After a sharp overnight decline, price action slowed as it tested the zone between $90.79 and $92.08, which aligns with the chart's 61.8% and 78.6% markers.
The chart illustrates the decline forming a distinct three-wave A B C structure, followed by a recovery leg identified as B. This pattern frequently suggests a corrective pullback within a larger move, rather than the commencement of a new trend. Consequently, the rebound still retains potential for further upward movement if buyers successfully breach the current resistance level.
Traders are now observing whether silver can decisively break above $92.08 and maintain that position. A firm advance beyond this level would open up subsequent upside targets near $93.72 and $97.73, as indicated by extension targets on the same chart. Conversely, if price fails to break through resistance again, the rebound may falter, potentially pulling silver back toward the previous swing low around the mid-$86 area.
Gold-Silver Ratio Hits Long-Term Target as Silver Outperforms
The gold-to-silver ratio declined to approximately 49.94 on the weekly chart, extending a significant slide that has brought the spread to a closely watched target area. The most recent weekly candle shows the ratio dropping by 11.46%, moving from the mid-50s down to just below 50.
X user dave the wave noted that the target had been "reached" and described the move as a shift in the relative value between the two precious metals. Historically, when the gold-silver ratio is high, it is often interpreted as gold being expensive relative to silver, prompting traders to swap gold for silver. With the ratio now approaching 50, this dynamic reverses, as each unit of silver can be converted back into more gold than when the ratio was higher.
The chart also highlights the magnitude of this swing within a broader context. The ratio has experienced extended periods above the 80 region in previous cycles before reverting to lower levels. Now that the ratio has broken down toward the 50 line, the market is at a level that could serve as a pause point, given that prior turning points have often formed after substantial and rapid declines.
Should the ratio remain below 50, it would continue to exert downward pressure on gold relative to silver, indicating that silver is the stronger performer. However, if the ratio rebounds above the 50.26 area marked on the chart, it would suggest that the target area has triggered a reset, and the spread may begin to widen again.
Silver Price Forecast Sees Extended Upside into 2026
In parallel, the CoinCodex outlook for silver in 2026 suggests a continuation of the current uptrend. Algorithm-based forecasts anticipate silver could climb significantly from its current levels near $90 per ounce to well above $300 by mid-2026. This implies a projected increase of more than 300% if the model's upper estimate is realized.
CoinCodex's forecast presents a wide spectrum of potential price outcomes, reflecting both short-term volatility and long-term upside potential. Within the 2026 projection, silver's trading range could extend from approximately $93 to nearly $943, with an average annualized price significantly above current levels. These figures suggest that bullish momentum may persist if key drivers, such as industrial demand and macroeconomic support, continue to strengthen.
These forecasts are presented alongside other price outlooks that exhibit considerable variation, underscoring the inherent uncertainty in silver markets. Certain technical models project higher targets exceeding $100 or even reaching the $200-plus range in bullish scenarios, driven by factors like supply constraints and increasing demand for physical metal. More conservative estimates, however, remain within lower price bands.
Collectively, the CoinCodex prediction supports the notion that silver's trend could extend well beyond recent resistance zones. Nevertheless, the extent of potential gains will depend on the evolution of industrial demand, investor flows, and broader economic conditions throughout 2026.