Bulls Eye $0.370 to get you $0.400 on the horizon

ADAUSD 100123 hourly chart

This morning, both the Exponential Moving Averages and the 4-hour candlestick chart (below) sent a bullish signal.

The ADA was above the 50-day moving average, currently at $0.283. After the bullish cross on Monday, the 50-day moving average moved away from the 200-day moving average, with the 100-day moving average declining to the 200-day moving average, giving bullish signals.

A wait above S1 ($0.293) and the 50-day moving average ($0.283) will support a breakout from R1 ($0.343) to target R2 ($0.0.370). However, a drop through S1 ($0.293) and the 50-day EMA ($0.283) would give bears a boost at the 200-day ($0.280) and 100-day ($0.274). A decline through the 50-day moving average ($0.283) may indicate a change in investor sentiment.

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