deBridge Founder Urges Flow Blockchain Validators to Halt Transactions Amid $3.9M Rollback Crisis
- Rollback Crisis: The Flow blockchain's rollback following a $3.9 million theft on December 27 has prompted deBridge founder Alex Smirnov to urge validators to halt transactions until the Flow Foundation develops a remediation plan for affected users, highlighting serious concerns over network security.
- Transaction Stagnation: Data from Flowscan indicates that the Flow blockchain remains stuck at block height 137,385,824, suggesting that validators have yet to heed Smirnov's call, which exacerbates user anxiety and trust issues within the network.
- Token Price Plummet: Since the attack, the FLOW token has dropped 42%, with a market cap now at $167.3 million, reflecting a significant loss of market confidence that could hinder future fundraising and ecosystem development.
- Industry Backlash: Several industry experts have criticized Flow's rollback decision, arguing that it not only fails to protect user assets but may also lead to broader financial losses, further undermining the blockchain's decentralization and security, which could impact its standing in the competitive crypto market.
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Technical Analysis for FLOW
Technical Sentiment Analysis for Flow (FLOW) As of , Flow (FLOW) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FLOW stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, FLOW is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Flow (FLOW) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0088 | 0.0223 | 0.0351 | 0.0485 | 0.0614 | 0.0748 | 0.0877 |
| Fibonacci | 0.0223 | 0.0323 | 0.0385 | 0.0485 | 0.0586 | 0.0648 | 0.0748 |
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