15% Crash Tests $80 on Warsh

Silver prices swung sharply over the past one to two sessions, ending a strong multi-week rally with a sudden, deep pullback.

After climbing steadily through January and pushing above recent highs, silver reversed course late in the session. Prices fell rapidly, erasing days of gains in a single move as selling accelerated. The drop marked one of the steepest daily declines in recent weeks and broke the short-term upward trend visible on the chart.

The sell-off came as broader markets adjusted to shifting U.S. policy expectations. Reports that President Donald Trump is preparing to nominate Kevin Warsh as the next Federal Reserve chair added pressure across risk-sensitive assets. Warsh is widely viewed as more hawkish, and the prospect of tighter monetary policy weighed on metals, which tend to struggle when interest rate expectations rise.

As a result, traders moved quickly to lock in profits after silver’s rapid advance. Volatility spiked, and price slid back toward levels last seen earlier in the month. By the end of the move, silver traded well below its recent peak, signaling a sharp reset after an extended upside run.

Silver Holds Above $80 After January Surge

Silver rose sharply in January 2026, and then it tested the $80 level but did not finish the month below it, based on the monthly chart shared by GoldPredictors. The chart shows silver pushing higher into late January after a long upswing, with the latest marked price near $85.19 per ounce.

Silver / U.S. Dollar (1M, OANDA): Source: TradingView/X

In its post, GoldPredictors.com said silver “attempted to close below $80 but failed,” and it framed February as the next decision point for direction. The same post said the next pullback could create a “big buying opportunity,” while keeping the timing and level unspecified.

The chart also shows an upward sloping channel that has guided price over decades, with the latest move pressing into the upper area of that range. If volatility stays elevated, traders will likely watch whether silver holds above $80 again, because that level now sits near the most visible recent test on this view.

Peter Brandt flags late 2030 silver scenario on long term chart

Veteran trader Peter Brandt shared a long term monthly chart of Comex silver and pointed to a possible path that shows fresh highs arriving in late 2030. In the post, he urged viewers to save the image and joked that he expects to be retired by then.

Comex Silver (Elec) Continuous Contract, NYMEX (Monthly bars): Source: Peter Brandt

The chart shows silver breaking above a long, gently rising resistance line that has capped price for decades. A handwritten note on the image asks whether the market will “retest” the breakout area, which implies a pullback toward the prior ceiling before any further climb.

The same image also includes a projected arrow that extends higher into the 2030 area. Brandt presented that path as a forward looking scenario, not a confirmed outcome, while the chart itself highlights how silver’s biggest moves have historically followed long base building periods on a monthly timeframe.