Silver prices experienced a significant rally over the past week, breaking above key levels at $28.50 and $30. Despite the rapid uptrend, analysts anticipate a potential short-term pullback to attract more buyers. The current overbought conditions suggest a minor correction may be necessary to sustain upward momentum. Furthermore, market watchers highlight the $28.50 support level as crucial for maintaining positive price action. Should prices hold above this level, further upside potential is expected, with traders closely monitoring resistance at $32.50. A breach above this level could trigger greater market interest, fueled by speculation around potential Federal Reserve rate cuts and subsequent USD depreciation. There is a growing belief that Federal Reserve liquidity measures could weaken currency markets, leading investors to seek alternative assets such as precious metals like silver. Despite the bullish outlook, market analysts caution against shorting silver at this time, viewing temporary price retracements as opportunities for long-term investors.