The analysis suggests a 1-2 setup has potentially formed on the larger timeframe, potentially initiating a third wave rally. A plausible scenario involves working on a third wave to the upside. A critical level to watch is $3.50, which aligns with previous selling pressure points; a break above this level would provide greater confidence in the upward trend. The analyst notes the April low around $1.70 as an important support. On the smaller timeframe, the analyst notes micro resistance at 2.67 and support between 2.57 and 2.61. Potential exists for further upside to $3.02, particularly if the price maintains above $2.57. If price resets wave 2, lower support exists between 2.52 and 2.36.