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<p>Silver is dealing with 2 very different forces right now. The fundamental picture points to years of supply shortages and rising industrial demand, but the shorter term silver price chart still leaves room for a substantial correction.</p><p>That combination makes the next major move particularly important. <a href="https://captainaltcoin.com/gold-and-silver-could-be-entering-their-biggest-change-in-50-years-and-ripple-is-suddenly-in-the-picture/" rel="noopener noreferrer nofollow">Silver has remained</a> trapped inside a range since August 10, and a breakout from either side could determine whether price heads toward much higher levels or revisits an area last tested during the previous correction.</p><p>Analysts Lukas Ekwueme and Winston Wolfe have examined the bigger picture from different angles. Ekwueme focuses on a persistent silver supply deficit, whereas Wolfe’s chart maps out a potentially bullish path that could still include several painful pullbacks.</p><h2 class="wp-block-heading" id="lukas-ekwueme-says-silver-supply-deficits-are-colliding-with-industrial-demand">Lukas Ekwueme Says Silver Supply Deficits Are Colliding With Industrial Demand</h2><p>Lukas Ekwueme, known as @ekwufinance on X, believes the growing imbalance between silver supply and demand could become increasingly difficult for the market to ignore.</p><p>His accompanying chart provides some important context. Silver recorded annual supply surpluses between 2016 and 2020, although those surpluses varied considerably. The situation changed during 2021, when demand began exceeding available annual supply.</p><blockquote class="twitter-tweet"><p>Silver deficits are piling up.<br><br>We are now in the sixth consecutive years of silver deficits.<br><br>Cumulative deficit are exceed one year of silver mine production.<br><br>At the same, time industrial demand is surging <br><br>How long can the market ignore these fundamentals? <a href="https://t.co/YNa8TtXuAn" rel="noopener noreferrer nofollow">pic.twitter.com/YNa8TtXuAn</a></p>— Lukas Ekwueme (@ekwufinance) <a href="https://x.com/ekwufinance/status/2095875061123088451?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 4, 2026</a></blockquote><p>The deficit was roughly 80 million ounces during 2021 before expanding to approximately 250 million ounces in 2022. Another shortage of around 200 million ounces followed during 2023.</p><p>Silver remained in deficit during 2024, when the shortage came close to 150 million ounces. The 2025 estimate shows another deficit above 100 million ounces.</p><p>That makes 2025 the <strong>5th consecutive year of<a href="https://www.goldavenue.com/en/blog/newsletter-precious-metals-spotlight/the-silver-deficit-a-quick-guide-for-investors?srsltid=AfmBOorx1CwE9_qEPKEJ1njKqKQT2BUZzDgFlOt4-G6ZhxT7hhuG-SOm" rel="noopener noreferrer nofollow"> silver supply deficit </a>based on the chart</strong>, covering the period from 2021 through 2025E. Ekwueme’s accompanying post describes the current situation as the 6th consecutive year, so there is a difference between the wording of his post and the period displayed in the chart.</p><p>Industrial demand provides the other important part of his argument. The yellow line on the chart shows industrial silver demand climbing from roughly 46% of total supply during 2016 to about 67% in the 2025 estimate.</p><p>Several numbers help put the situation into perspective:</p><ul class="wp-block-list"><li>Silver has recorded annual deficits from 2021 through 2025E on the supplied chart.</li><li>The 2022 deficit reached roughly 250 million ounces.</li><li>The 2023 shortage remained close to 200 million ounces.</li><li>The 2025 estimate still shows a deficit above 100 million ounces.</li><li>Industrial demand has risen to approximately 67% of total silver supply.</li></ul><p>Ekwueme also argues that cumulative deficits now exceed the equivalent of 1 year of silver mine production.</p><p>That does not mean silver price must immediately move higher. Existing inventories can cover part of the difference between annual production and consumption. Persistent deficits become more important if those inventories continue supplying metal that current production cannot replace.</p><h2 class="wp-block-heading" id="winston-wolfe-s-silver-chart-shows-why-a-bigger-rally-could-take-time">Winston Wolfe’s Silver Chart Shows Why A Bigger Rally Could Take Time</h2><p>Winston Wolfe, <a href="https://x.com/MrWWolfe/status/2095867382610715039?s=20" rel="noopener noreferrer nofollow">who posts as @MrWWolfe</a>, examines silver price from a much broader technical perspective.</p><p>His chart shows silver breaking above a large downward pointing trendline that had contained price since the major 2026 peak. Escaping that structure improves the broader technical picture, but Wolfe does not <a href="https://captainaltcoin.com/heres-why-silver-price-could-return-to-121-despite-the-recent-crash/" rel="noopener noreferrer nofollow">expect silver to</a> travel directly upward from here.</p><p>A look at Wolfe’s silver chart shows a large curved structure extending through 2027. His projected path includes several advances followed by substantial corrections before price potentially reaches the upper boundary.</p><p>That detail matters because Wolfe’s bullish outlook allows plenty of volatility along the way.</p><figure class="wp-block-image size-large"><img width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2026/09/image-125-1024x581.png" alt="" class="wp-image-940812"><figcaption class="wp-element-caption"> @MrWWolfe / X </figcaption></figure><p>The chart identifies approximately $51.50 as an important level that “MUST HOLD.” Several support lines also converge around the broader $45 to $52 area, which could make that region important during a deeper correction.</p><p>Wolfe’s upside level is considerably higher. His chart places approximately $121.94 as the major resistance that silver “MUST BREAK.”</p><p>The projected route toward that area is anything but direct. Wolfe maps possible advances toward approximately $70 and later the $89 to $95 region. His scenario also contains corrections toward the high $50s, low $70s and mid $80s before another attempt higher.</p><p>Wolfe therefore expects silver price to move both higher and lower for a considerable period before the larger arc reaches its later stages.</p><p>His analysis also offers an interesting connection with the current silver price prediction. Wolfe identifies the low $50 region as an important area within the broader structure, and our shorter term analysis independently points toward approximately $53 to $50 if immediate support fails.</p><h2 class="wp-block-heading" id="silver-price-prediction-puts-63-and-71-at-the-center-of-the-next-move">Silver Price Prediction Puts $63 And $71 At The Center Of The Next Move</h2><p>The shorter term silver price prediction is more cautious than the fundamental supply picture might imply.</p><p>A look at the daily timeframe shows silver trading largely within a range since August 10. The major boundaries are around $63.3 at the bottom and $71 at the top.</p><p>Silver could continue moving inside that range if neither side produces a convincing breakout. The current technical structure, however, gives sellers an advantage.</p><figure class="wp-block-image size-large"><img width="1024" height="519" src="https://captainaltcoin.com/wp-content/uploads/2026/09/image-124-1024x519.png" alt="" class="wp-image-940804"><figcaption class="wp-element-caption"> XAGUSD Price Chart / TradingView.com </figcaption></figure><p>Price recently bounced away from the upper part of <a href="https://howtotrade.com/chart-patterns/descending-channel-pattern/" rel="noopener noreferrer nofollow">a descending channel pattern</a>. Continued respect for that channel could put the lower range boundary under pressure during the coming days.</p><p>A break below approximately $63.2 would become the first major bearish development. Silver price could then slide toward the $53 to $50 region.</p><p>That downside area deserves particular attention because Wolfe’s larger chart also identifies support around the low $50 region. A failure around $50 could expose silver to lower levels if selling pressure remains strong.</p><p>The bullish silver price prediction requires a break in the opposite direction.</p><p>Silver needs to move above $71 and establish price action beyond the current range. Such a breakout could open the path toward approximately $77.</p><p>Continued strength beyond $77 could then place $89 within reach during the following weeks.</p><figure class="wp-block-table table1"><table class="has-fixed-layout"><thead><tr><th>Silver Price Level</th><th>What The Level Could Mean</th></tr></thead><tbody><tr><td>$121.94</td><td>Major longer term level identified by Wolfe</td></tr><tr><td>$89</td><td>Higher target if bullish strength continues</td></tr><tr><td>$77</td><td>First major target above the current range</td></tr><tr><td>$71</td><td>Main resistance and bullish breakout level</td></tr><tr><td>$63.2 to $63.3</td><td>Immediate support and current range floor</td></tr><tr><td>$53 to $50</td><td>Main downside area after a bearish breakdown</td></tr><tr><td>$51.50</td><td>Important broader support identified by Wolfe</td></tr></tbody></table></figure><h2 class="wp-block-heading" id="silver-supply-crisis-and-price-structure-point-to-different-timelines">Silver Supply Crisis And Price Structure Point To Different Timelines</h2><p>Silver’s current setup becomes clearer when the fundamental and technical arguments are viewed together.</p><p>Ekwueme’s supply data presents a market that has consumed more silver than annual supply can provide for several consecutive years. Industrial demand has also climbed to roughly 67% of total supply based on the 2025 estimate shown in his chart.</p><p><strong><em>Read Also:<a href="https://captainaltcoin.com/xrp-price-could-have-one-more-drop-before-the-bigger-move-begins/" rel="noopener noreferrer nofollow"> XRP Price Could Have One More Drop Before the Bigger Move Begins!</a></em></strong></p><p>Wolfe’s analysis offers a possible explanation for how those fundamentals could eventually translate into much higher silver prices without producing a straight rally. His chart allows repeated corrections before silver potentially challenges the major $121.94 area.</p><p>The immediate silver price prediction remains dependent on $63.2 and $71. A break below $63.2 could expose $53 to $50, whereas a move above $71 could open the route toward $77 and eventually $89.</p><p>Silver’s supply shortage could become increasingly important if deficits continue. The more immediate question is whether silver price breaks its current range to the upside or visits the low $50 region before the larger story has another chance to develop.</p><h2 class="wp-block-heading" id="faqs">FAQs</h2><div class="wp-block-uagb-faq uagb-faq__outer-wrap uagb-block-82dc26f3 uagb-faq-icon-row-reverse uagb-faq-layout-accordion uagb-faq-expand-first-false uagb-faq-inactive-other-true uagb-faq__wrap uagb-buttons-layout-wrap uagb-faq-equal-height uagb-faq__wrap uagb-buttons-layout-wrap"><div class="wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-2970d97a "><div class="uagb-faq-questions-button uagb-faq-questions"><span class="uagb-icon uagb-faq-icon-wrap"></span><span class="uagb-icon-active uagb-faq-icon-wrap"></span><span class="uagb-question"><strong>Why is silver called xag?</strong></span></div><div class="uagb-faq-content"><p><em>Silver is called XAG because it is the official ISO 4217 currency code for one troy ounce of silver in financial markets.</em></p></div></div><div class="wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-50b37f5f "><div class="uagb-faq-questions-button uagb-faq-questions"><span class="uagb-icon uagb-faq-icon-wrap"></span><span class="uagb-icon-active uagb-faq-icon-wrap"></span><span class="uagb-question"><strong>Is XAG silver a good investment?</strong></span></div><div class="uagb-faq-content"><p><em>XAG (spot silver) can be a good investment for portfolio diversification and inflation protection, but it carries high volatility and trades around&nbsp;<strong>$66.90 per ounce</strong>.&nbsp;</em></p></div></div></div><p><em><strong>Subscribe to <a href="https://www.youtube.com/@Captain-Altcoin" rel="noopener noreferrer nofollow">our YouTube channel</a> for daily crypto updates, market insights, and expert analysis.</strong></em></p><figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"><iframe title="2026 Crypto Card Ranking — Massive CHANGES Nobody Expected!" src="https://www.youtube.com/embed/gVOD-NjXLDo?feature=oembed"></iframe></div></figure><p>The post <a href="https://captainaltcoin.com/silver-price-prediction-this-supply-crisis-could-eventually-send-silver-back-to/" rel="noopener noreferrer nofollow">Silver Price Prediction: This Supply Crisis Could Eventually Send Silver Back to…</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Silver Price Prediction: This Supply Crisis Could Eventually Send Silver Back to…

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