Leading market analyst Scott Melker from The Wolf Of All Streets Podcast recently observed interesting movements in the silver sector, noting a significant surge in trading volume according to his post on X. This phenomenon is viewed as a blow-off signal, which is an extreme movement often indicating a trend reversal.

Furthermore, Melker identified the potential formation of a bear flag on the 50-day moving average (MA 50 daily). The bear flag pattern is a technical indicator showing consolidation in a downtrend before the continuation of the decline. If this pattern is confirmed and the level is broken downward, silver price projections are expected to break below the $50 zone.

This prediction aligns with previous analyses of silver, a commodity often nicknamed the "devil's metal" among traders due to its high volatility and characteristic movements. Melker's technical observations provide a warning signal for investors monitoring this precious metal asset to stay alert to the possibility of bearish movements amid striking volume indicators.