Ergo sitting at long trend channel support

currently Ergo is sitting at upward trend (Blue) channel support if it breaks to the down side I will be looking at the orange downward trend support. If this blue channel hold I am looking at the possible formation of Elliot Wave in the macro view, which implies wave 2 is complete and wave 3 is forming. wave 3 confirmation once price action starts trading above wave 1. Also testing the RSI.