Growth is possible.

On the daily chart, a downward correction ended as the second wave of the higher level 2, and the third wave 3 develops, within which the first wave of the lower level (1) of 3 formed. Now, a correction has formed as the second wave (2) of 3, and the third wave (3) of 3 is developing, within which the wave 3 of (3) is forming. If the assumption is correct, the asset will grow to the levels of 54.00–57.00. In this scenario, critical stop loss level is 41.00.

Main scenario

Long positions will become relevant above the level of 41.00 with the targets at 54.00–57.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 41.00 will let the asset go down to the area of 34.80–32.60.