Growth is possible.

On the daily chart, a downward correction ended as the second wave of the higher level (2), within which the wave C of (2) formed. Now, the third wave (3) has started, within which the entry first wave of the lower level (i) of i of 1 of (3) has ended, and a correction is developing as the wave (ii) of i of 1 of (3). If the assumption is correct, the asset will grow to the area of 37.25–51.10. In this scenario, critical stop loss level is 17.95.

Main scenario

Long positions will become relevant above the level of 17.95 with the targets at 37.25–51.10. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 17.95 will let the asset go down to the area of 11.00–5.00.