Silver Has Become Incredibly Popular Over the Last Three Months

Silver has suddenly returned to the spotlight. Over the last three months, interest in silver has exploded — and that’s not something I see as random.

I haven’t traded silver for a long time, but at the request of friends, I decided to take a deeper look at what’s really happening behind the scenes.

Before we draw any lines on the chart, let’s start with the big picture.

The Annual Perspective: Where This Move Was Born

The accumulation zone between 1984 and 2005 is extremely important.
This was the era when the first computers appeared, cordless phones entered daily life, flat screens became mainstream, and electronic circuits were replaced by chips. Demand for silver began to grow structurally for the first time.

The second major accumulation phase formed just before the rise of artificial intelligence 😉
At that time, forecasts started circulating about how new technologies would drive long-term demand for silver.

Now look at 2020.
AI became a mainstream topic, chip demand exploded — but the general public was still asleep. As a result, silver’s price was easily pushed back down to the 2009 opening level, where the long-term buying campaign originally started.

As always, the trend developed quietly at first:
A new high → sharp pullback.
Another new high → another sharp pullback.

And then came 2025 — a key year for silver.

In 2025, the price rose from 28 to 83.
In January 2026, fueled by public FOMO, silver printed a new all-time high at 121.559.

I especially want to draw attention to the 2025 candlestick for those who rushed to buy silver recently out of FOMO 😉

The Monthly Chart: Where Psychology Shows Up

The impulsive phase began in June 2025.
The first five months were quiet accumulation. Then came a sharp expansion, a gentle pullback in December, and another push higher with a much sharper pullback in January 2026.

The January 2026 candle closed almost exactly at the old 2025 ATH, around the 23% Fibonacci level of the entire monthly range. It also left a long upper wick — often a sign of distribution and possible reversal behavior.

In early February, about 25% of that wick was already tested, followed by a strong pullback to the January opening level.

All of this increases the probability that price will move into the 2025 gap zone.

The middle of that gap aligns with the old 2011 ATH at 49.78 — a level that still matters psychologically.

What I’m Watching Next

If price enters the gap zone, I won’t rush into buying.
First, I want to see a clean test of the 2011 all-time high (49.78).

Ideally, I’d like to see at least 75% of the gap filled, which would bring price toward 39.87.

At the same time, if silver makes another all-time high — even a temporary one — we could first see a test of the upper-wick levels of the January candle, either before or after the move into the gap.

So, the possible scenarios are shown on the last chart, and both suggest a decline into the gap zone with a test of at least the old 2011 all-time high.