Thoughts on SLV's current range and potential for a breakout

Been watching $SLV closely this week. It's stuck in a pretty tight range, hovering right around the 50.60 mark as of today. On the daily, it looks like it's trying to consolidate after that run up we saw recently. The intraday highs around 50.82 are interesting because they've been tested a few times now, suggesting some resistance there. Conversely, that 49.605 level has provided some decent support on the downside.

My take is that a clean break above 50.85-50.90, preferably on some volume, could signal a move towards the higher end of its recent trading range, possibly testing 51.50 or even 52. The invalidation for this scenario, in my opinion, would be a decisive close below 49.50. If it starts closing below that, the consolidation might turn into something more bearish, perhaps retesting the 48-ish levels. Just observing for now, no strong convictions either way until we see how it resolves this current range.