The price is in a correction and a fall is possible.

On the daily chart, the downward third wave of the higher level 3 develops, within which the wave (1) of 3 formed, and an upward correction ends as the wave (2) of 3. Now, the wave C of (2) is ending, within which the third wave of the lower level iii of c of (2) has formed. If the assumption is correct, after the correction, the price will fall to the area of 0.8323–0.8000. In this scenario, critical stop loss level is 0.9240.

Main scenario

Short positions will become relevant below the level of 0.9240 with the targets at 0.8323–0.8000. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 0.9240 will let the asset grow to the area of 0.9578–0.9819.