We see the rapid growth of the market inside the yellow channel. Most likely, the bulls are actively pushing the price towards the upper bound of this channel and the resistance level of 3201. In favor of this is the fact that the price has been above the red line of the moving average for a long time. In addition, during the upward movement, the price pushed off from this line several times, which may indicate a large bullish potential.
Thus, in the near future, the market may grow in the direction of the specified resistance level.
However, if the bulls lose their potential and the market goes well below the moving average, we could expect a long decline in the direction of the lower bound of the yellow channel and the support level of 2953.9.
