Silver (XAG) Price Prediction: What To Expect in March 2026

Silver has had a turbulent start to 2026, plunging from an all-time high near $121 on January 29 to about $63.85 on February 6, then recovering to roughly $84 by February 20. Technicals point to a developing cup pattern with a neckline near $84, and a hidden bearish RSI divergence that favors consolidation between $75 and $92 before the next decisive move.

Several bullish signs support the case for higher prices once a base forms. The Global X Silver Miners ETF (SIL) has shown resilience, COMEX is in rare backwardation with futures trading below spot, and hedge funds remain largely underexposed with Managed Money net long just 5,472 contracts — leaving room for meaningful institutional buying if confidence returns.

At the same time, the recent rally shows hallmarks of short covering: prices rose as open interest fell, suggesting fresh buying has yet to arrive.

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