Investing Haven
No Result
View All Result
Gold Silver Investing >>
CRYPTO INVESTING >>
  • 2025 Forecasts
    • 10 market predictions
    • Dow Jones forecast
    • S&P 500 forecast 2025
    • Nasdaq prediction 2025
    • Best altcoins to buy
    • Best crypto to buy now
    • Which crypto will explode
    • 15 crypto forecasts 2025
    • Which precious metal to buy
  • Silver
    • Silver prediction 2025 – 2030
    • Will silver exceed $30?
    • When will silver hit $50?
    • Can silver hit $100?
    • Silver shortage
    • 50-year silver chart
    • Silver bullish reversal
    • Silver seasonality charts
    • How to invest in silver
  • Gold
    • Gold prediction 2025 – 2030
    • Will gold set new ATH?
    • Will gold hit $3,000?
    • Can gold hit $10,000?
    • Gold chart 10 years
    • Gold chart 50 years
    • Gold chart 100 years
    • Gold silver ratio
    • Gold seasonality charts
  • Commodities
    • Coffee forecasts
    • Sugar forecasts
    • Nickel forecasts
    • Lithium investing
  • Crypto forecasts
    • BTC prediction 2025 – 2030
    • ETH prediction 2025 – 2030
    • SOL prediction 2025 – 2030
    • XRP prediction 2025 – 2030
    • XLM prediction 2025 – 2030
    • BNB prediction 2025 – 2030
    • ADA prediction 2025 – 2030
    • AVAX prediction 2025 – 2030
    • KAS prediction 2025 – 2030
    • NEAR prediction 2025 – 2030
    • BCH prediction 2025 – 2030
    • LINK prediction 2025 – 2030
    • DOT prediction 2025 – 2030
    • SUI prediction 2025 – 2030
    • ICP prediction 2025 – 2030
    • LTC prediction 2025 – 2026
    • STX prediction 2025 – 2030
    • DOGE prediction 2025 – 2030
    • SHIB prediction 2025 – 2030
    • PEPE prediction 2025 – 2030
    • FLOKI prediction 2025 – 2030
    • WIF prediction 2025 – 2030
    • ONDO prediction 2025 – 2030
  • News
    • Crypto news
    • Commodities
    • Markets & Stocks
  • Login
Investing Haven
No Result
View All Result

Home » Silver » Silver About To Hit Longstanding Target Of $34.70

Silver About To Hit Longstanding Target Of $34.70

Taki T. by Taki T.
May 29, 2024
in Silver
silver 2025
1.9k
VIEWS
Share on FacebookShare on Twitter

InvestingHaven’s first bullish target has been $34.70 since many years. This is documented in its annual silver prediction. As silver is approaching $34.70, the question becomes whether this is the end point or an acceleration point.

RELATED – The silver shortage: numbers, facts, emotions.

Since many years has the analyst team at InvestingHaven been talking about the $34.70 silver price target. Many considered it impossible. The market has spoken now. Silver is where we said it would be based on silver chart readings. Once again, opinions from readers have proven to be just that: opinions.

The chart has the answer, always. Chart readings can help investors tremendously, only those with an open mind though. Bias, as explained many times, is one of the biggest enemies of individual investors.

Silver price today, at the time of writing: $32.31.

Silver’s basing pattern almost complete

While our work is primarily based on chart patterns which we tend to annotate on our charts, it often pays off to look at charts without annotations.

Below is the silver price chart, on its weekly timeframe, without annotations.

The silver story is clear – silver broke out two weeks ago, it is now in a breakout territory. The multi-year formation morphed into a long basing pattern.

Remember – the longer the basing pattern, the higher the upside potential after a breakout.

Silver price chart completing a long basing pattern

To rise or not to rise? What does US Dollar think?

If anything, the rise to $34.70 was in the cards since two years. All our silver related articles have been featuring this price target, even the ones in the public domain, for instance Silver On The Rise – How Much Higher Can It Go?

From our analysis when will silver hit $50 an Ounce:

  • It’s important to understand that predicting a price rally to $50 doesn’t mean a single, uninterrupted climb. The journey could involve two distinct stages.
  • The initial stage might see silver moving toward $34.70, driven by a combination of technical and fundamental factors.
  • Once this stage is achieved, the path to $50 could follow. It will be supported by strengthening market sentiment, potential supply-demand imbalances, and external catalysts.

With this in mind, the question is whether sentiment can continue to drive silver higher in the short term but also if leading indicator USD can allow for more upside in the price of silver.

A drop below 104.10 points in the USD will open the doors for a quick rally in silver

The short version of the answer: is silver accelerating its move higher or will hit it resistance at $34.70, essentially is that it only matters to those that (a) have a short timeframe (b) want to maximize their profits. Both are going to create some form of stress. It is likely a better idea to simply take $50 as a decision point rather than $34.70. While this is not a forecast, it certainly is long term oriented guidance for long term investing success.

The focus on the longest term silver chart

The monthly timeframe of silver, again without annotations, makes it very clear – the first target of $34.70 is just one of the upside targets, but $50 is a no-brainer, irrespective of a potential break that silver will take in the summer of 2024.

Silver may break above $34.70 short term, or in a few months to quarters. The point is – $50 is the obvious target.

The question to ask, with this gigantic bullish reversal pattern: will silver ever hit $100 an Ounce?

Secular silver chart working on a gigantic cup and handle bullish reversal

It is too early to talk about price target of $100. While silver is likely to trade at or above $100, at a certain point in time, the key question is how to handle the $50 target.

One step at a time.

Whether silver goes in one straight line to $50 or not is the more immediate question. We believe the USD has the answer to this question, but also sector momentum and sentiment.

There is one more data point which might be relevant, we explained it in our latest gold & silver market report. While silver won’t make it easy to read its intentions, there are some data points to carefully monitor to understand what might be next.

 

10-YEAR ANNIVERSARY OFFER: InvestingHaven.com celebrates 10 years. Temporarily, you can enjoy a discount on our premium gold/silver and crypto reports. Or you can become a VIP member. Go to our anniversary deals >>
Receive our weekly newsletter.

premium service SP-500 premium service trade alerts premium service crypto teaser 

No related posts.

Tags: SILVER
Taki T.

Taki T.

Taki is a chart analyst who is passionate about unlocking unique insights out the chart. While the vast majority of analysts remain focused on price analysis, Taki starts with timeline analysis and adds price analysis to this. In doing so, he developed a unique methodology to find opportunities in financial markets, across assets and markets.

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Site Navigation

  • RSS Feed
  • About us
  • Advertising
  • Sponsored Content Policy
  • Mission 2026
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • Contact Us
investing haven logo

Precious metals market analysis including gold and silver price predictions. Crypto market analysis including highly accurate BTC ETH SOL XRP forecasts.

Copyright © 2025 InvestingHaven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Receive top notch forecasts for free.

*We hate spam as you do.

No Result
View All Result
  • News
  • 2025 Forecasts
    • 10 market predictions
    • Dow Jones forecast 2025
    • S&P 500 forecast 2025
    • Nasdaq prediction 2025
    • Best crypto to buy now
    • Which crypto will explode
    • Best altcoins to buy
    • 15 crypto forecasts 2025
    • Which precious metal to buy
  • Silver articles
    • Silver prediction 2025 – 2030
    • Will silver exceed $30?
    • When will silver hit $50?
    • Can silver hit $100?
    • Silver shortage
    • 50-year silver chart
    • Silver bullish reversal
    • Silver seasonality charts
    • How to invest in silver
  • Gold
    • Gold prediction 2025 – 2030
    • Will gold set new ATH?
    • Will gold hit $3,000?
    • Can gold hit $10,000?
    • Gold chart 10 years
    • Gold chart 50 years
    • Gold chart 100 years
    • Gold silver ratio
    • Gold seasonality charts
  • Commodities
    • Sugar forecasts
    • Coffee forecasts
    • Nickel forecasts
    • Lithium investing
  • Crypto news
  • Crypto forecasts
    • BTC prediction 2025 – 2030
    • ETH prediction 2025 – 2030
    • SOL prediction 2025 – 2030
    • XRP prediction 2025 – 2030
    • XLM prediction 2025 – 2030
    • BNB prediction 2025 – 2030
    • ADA prediction 2025 – 2030
    • AVAX prediction 2025 – 2030
    • KAS prediction 2025 – 2030
    • NEAR prediction 2025 – 2030
    • BCH prediction 2025 – 2030
    • LINK prediction 2025 – 2030
    • DOT prediction 2025 – 2030
    • SUI prediction 2025 – 2030
    • ICP prediction 2025 – 2030
    • LTC prediction 2025 – 2026
    • STX prediction 2025 – 2030
    • DOGE prediction 2025 – 2030
    • SHIB prediction 2025 – 2030
    • PEPE prediction 2025 – 2030
    • FLOKI prediction 2025 – 2030
    • WIF prediction 2025 – 2030
    • ONDO prediction 2025 – 2030
  • Premium Crypto Alerts
  • Premium services

Copyright © 2025 InvestingHaven