The price may grow.

On the daily chart, a downward correction formed as the second wave of the higher level (2), within which the wave C of (2) ended. 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 ending 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 after the end of the correction above the level of 17.95 with the targets at 37.25–51.10. Implementation period: 7 days or 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.