Silver Price Soars to test $122 Point

Price retracement envisaged at $122

SILVER Price Analysis – 29 January

The price may try to climb toward the $124–$126 region if it rises above $122 and there is a lot of purchasing activity. However, the price of silver may decline and test the $102 and $96 support levels if sellers are able to maintain the $122 price level and the $107 support is broken.

XAGUSD Market

Key Levels:

Resistance levels: $122, $124, $126

Support levels: $107, $102, $96

XAGUSD Long-term trend: Bullish

Since November, when the daily chart displayed a double bottom formation, a favorable trend has persisted. Silver broke through the $96 barrier and started to skyrocket. The daily graphic shows an upsurge in purchase activity since August 5. Prices have increased by $107 from the previous month due to strong client demand.

The game involves volatility

#silver in #china almost touching 150$

And people in the west are scared of a little dip from 120-112$

Volatility is part of the game

Don’t get scared, dips are opportunities to add

And this massive premium is proof of what is to come to the western #silver price pic.twitter.com/SOUrTvmypS

— Minerva mining (@TheMinervaminer) January 29, 2026

Don’t be afraid; dips are chances to add.  And this enormous premium is evidence of what lies ahead for the price of silver in the West.

Silver began to increase as the bulls grew stronger and the selling pressure was unable to break through the $96 level. Bulls have been more active over the last two weeks, and this week the price is getting close to $122. Yesterday’s movement suggests a retreat trend.

The price of silver is greater than the Hull Suite forex signals index and has a histogram above zero. One of the best forex signal indicators, the QQE MOD, is currently displaying a positive signal. The price may try to climb toward the $124–$126 region if it rises above $122 and there is a lot of purchasing activity. However, the price of silver may decline and test the $102 and $96 support levels if sellers are able to maintain the $122 price level and the $107 support is broken.

.XAGUSD Medium-term Trend: Bullish

There is an increasing trend on the 4-hour XAGUSD chart. A few days ago, a double bottom pattern appeared near $63, indicating a significant change in direction. Silver’s first challenge is the $96 level. The price avoided resistance by breaking through this level. Due to the buyers’ substantial purchasing power, tariffs have been increased to $122 per unit.

Silver is currently surging above important dynamic support levels. The QQE MOD is using the purchasing signal more frequently.

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