Silver Price Stuck in Falling Wedge Ahead of 2030 Breakout

The silver price is currently trading in a tight range, sparking interest among traders. The spot price of XAG has been hovering around $66.26, with a market cap of $265.07B and a fully diluted valuation of $3.71T.

A recent analysis by More Crypto Online suggests that silver may need to drop one more low before completing its current wave count. This view aligns with the 1h chart showing a falling wedge pattern, where lower highs and lower lows are converging into a tighter range.

The structure of the wedge is such that it can break either way, but once it does, it could lead to a sharp move. A close above $67.182 would confirm a bullish continuation, while a close below $65.366 would signal a bearish breakdown.

Looking ahead to 2030, the large gap between circulating and total supply is seen as an overhang risk if more tokens enter circulation faster than demand can absorb them. This could cap upside potential regardless of strong demand.