Flow Blockchain Implements Mainnet-28 Fix, Transactions Paused
- Protocol Fix Implementation: On December 28, the Flow Foundation successfully deployed the Mainnet-28 protocol fix, placing the blockchain in an 'idle/read-only' state with transaction suspension after unanimous approval from validators, highlighting a strong emphasis on user asset security.
- Market Reaction: Following the fix, Flow (FLOW) experienced a sharp 31.54% price drop, trading at $0.12 with a market cap of $193.10 million, reflecting market concerns over network restoration and sensitivity to security vulnerabilities.
- Impact of Transaction Suspension: The network's read-only status affects decentralized finance and cross-chain transfers, indicating that Flow must conduct necessary partner synchronization to restore full network activity post-fix.
- Future Outlook: The Flow Foundation emphasizes that while addressing protocol vulnerabilities, future updates will clarify regulatory impacts, demonstrating the company's strategic commitment to overcoming market challenges and enhancing network security.
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Technical Analysis for FLOW
Technical Sentiment Analysis for Flow (FLOW) As of , Flow (FLOW) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 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 | 0.00367 | 0.0197 | 0.0348 | 0.0508 | 0.0659 | 0.0819 | 0.0971 |
| Fibonacci | 0.0197 | 0.0316 | 0.0389 | 0.0508 | 0.0627 | 0.0701 | 0.0819 |
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