The analysis focuses on ONDOUSD. On the 4H chart, a 1-2-3-4-5 Elliot wave structure is identified. The target for the fifth wave is projected at $1.28. To reach this target, the price must stay above the 200-day moving average. There was a cross on the bull market support band, a pattern that previously led to price increases. On the daily chart, the analyst is tracking a larger third wave upwards, with a target of $5.24. He expects a 4th wave move down, then a 5th wave up.