In the back of your head, you should now hear the intro to “The Power” by Snap! as this is the fitting soundtrack for the ascent Cosmos has accomplished so far. From the low of wave (ii) in blue, the altcoin has realized an increase of about 30%, so the current rest is indeed deserved. Soon, our crypto-friend should resume its climb to make it above the resistance at $15.81. There, Cosmos should finish wave (iii) in blue before starting the countermovement of wave (iv) in blue, which should happen above $15.81, though. However, there is also a 35% chance that Cosmos might develop a new low in the form of wave alt.II in white, dropping below the support at $5.54.
