Be careful, this is a pullback to the previous ascending waves. The entry point of the next climb is 2.89.
In the diagram, the two waves A and B are separated by a dashed line.
Both of these waves were ascending, so after falling to the starting level of both waves, the value of 2.98, two ascending pullbacks should be made to Line A for wave A and to Line B for wave B.
After reaching the level of Line B, due to the completion of the pullbacks, we will fall to the initial level of C wave (Value of 2.32), but in the path of the highest remaining peak, value of 2.89, it will resist further fall and cause a third ascending wave. 4.18 and the numbers will be higher.