A fall is possible.

On the daily chart, a downward correction develops as the second wave 2, within which the wave (А) of 2 formed, a correction ended as the wave (B) of 2, and the wave (C) of 2 forms. Now, the fifth wave 5 of (C) is developing, within which a local correction has ended as the second wave of the lower level ii of 5, and the development of the third wave iii of 5 has started. If the assumption is correct, the price of the asset will fall to 25.00–20.82. In this scenario, critical stop loss level is 29.75.

Main scenario

Short positions will become relevant below the level of 29.75 with the targets at 25.00–20.82. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 29.75 will let the asset grow to the area of 32.90–36.86.