Key Takeaways
- Arweave (AR) breaks a critical resistance trend line, signaling potential upward momentum.
- Hedera (HBAR) reclaims a long-term support zone, reinforcing bullish sentiment.
- Theta Network (THETA) consolidates above key support, hinting at a corrective pattern breakout.
On May 2, Coinbase International announced perpetual futures listings for Arweave (AR), Hedera (HBAR), and Theta Network (THETA). While AR surged 20% post-announcement, HBAR and THETA prices remained steady—despite showing bullish technical setups.
Arweave (AR): Breaking Resistance with Momentum
Price Action Analysis
- October 2023–Present: AR’s uptrend aligns with a five-wave Elliott structure (black waves).
- Wave Four Completion: Corrective dip from $47.51 (March 9) to $22 (April 13) set the stage for wave five.
- Current Movement: AR reclaimed $28 as support and nears a descending resistance trend line from wave four.
👉 Why AR’s breakout could target $64
Key Levels
- Upside Target: $64 (1.61 Fib retracement of the March–April drop).
- Invalidation Signal: Daily close below $28 negates the bullish count.
Hedera (HBAR): Long-Term Support Holds Strong
Weekly Chart Insights
- Breakout Confirmation: HBAR surpassed the $0.09 resistance (February) and retested it as support (April).
- Recent Volatility: Misleading BlackRock partnership news spiked prices to $0.18, but the level wasn’t sustained.
Bullish Indicators
- RSI & MACD: RSI bounced at 50; MACD hints at a bullish crossover.
- Next Resistance: $0.25 (130% above current price).
Theta Network (THETA): Double Bottom Suggests Reversal
Pattern Recognition
- Descending Channel: THETA respects support at $1.71 (April 13) and $2.00.
- Double Bottom: Bullish reversal pattern backed by RSI/MACD divergences.
Price Targets
- Breakout Scenario: A channel exit could propel THETA to $3.30.
FAQ: Coinbase Futures Listings and Price Impact
Q1: Why did AR surge while HBAR/THETA didn’t?
A: Market sentiment favored AR’s technical breakout; HBAR/THETA await confirmation signals.
Q2: Is Hedera’s reclaim of $0.09 significant?
A: Yes—it validates long-term support, increasing bullish confidence.
Q3: Could THETA’s double bottom fail?
A: A breakdown below $1.71 would invalidate the pattern, risking further declines.
👉 How to trade crypto futures strategically
Conclusion
While AR leads the charge, HBAR and THETA exhibit compelling technical setups that may soon mirror AR’s rally. Traders should watch for confirmatory breakouts and key support holds.
Pro Tip: Always pair technical analysis with fundamental news to mitigate risks.
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