Ethereum Layer-2 Faces Turmoil: Kinto Token Plummets 90% Following Smart Contract Breach
Kinto Token Crash Overview: The Kinto token experienced a dramatic crash, losing over 90% of its value following a hack that exploited a flaw in the ERC-1967 Proxy standard, resulting in the theft of approximately 577 ETH and a loss of investor confidence.
Project Shutdown and User Impact: The Kinto project announced its closure by September 30, 2025, urging users to withdraw their funds, while offering partial compensation through a goodwill grant and recovery for some lenders, highlighting the fragility of decentralized finance ecosystems.
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Technical Analysis for K
Technical Sentiment Analysis for Sidekick (K) As of , Sidekick (K) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for K 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, K 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 $-.
Sidekick (K) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00141 | 0.000835 | 0.00213 | 0.00438 | 0.00567 | 0.00792 | 0.00921 |
| Fibonacci | 0.000835 | 0.00219 | 0.00302 | 0.00438 | 0.00573 | 0.00656 | 0.00792 |
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