Flow Blockchain Faces $3.9M Loss After Controversial Rollback Post-Security Breach
- Security Breach Impact: The Flow blockchain experienced a security breach resulting in approximately $3.9 million in stolen funds, prompting validators to halt transaction processing, which highlights the network's vulnerabilities and declining user trust.
- Token Value Plummet: Following the incident, the FLOW token's value dropped by 42%, reflecting market concerns over network integrity and potentially leading to further erosion of investor confidence.
- Rollback Controversy: The chain rollback has sparked intense debate within the industry regarding decentralization and systemic risks, with critics arguing that such actions could undermine user interests and the stability of the ecosystem.
- Lack of Transparency: Despite the Flow Foundation's promise to restart the network within four to six hours, validators have yet to unfreeze it, raising questions about the handling of user balances and transparency, which may exacerbate market unease.
Get Real-Time Alerts for Any Crypto Movement
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 |
About FLOW
About the author
