Flow Foundation Reports Security Breach Leading to 37% Market Value Drop
- Security Incident Impact: The Flow Foundation reported a significant security breach on December 27, leading to the unauthorized deposit and conversion of 150 million FLOW tokens, which directly impacted network stability and resulted in a 37% drop in FLOW's market value.
- Compliance Flaws Exposed: This incident revealed major deficiencies in anti-money laundering and KYC processes, prompting the foundation to engage with forensic agencies and global exchanges to protect user assets and enhance market trust.
- Market Reaction: Following the incident, FLOW token trading volume decreased by 26.55%, with a current price of $0.09 and a market cap of $143.10 million, reflecting market concerns over security and compliance.
- Future Outlook: The Coincu research team indicates that regulatory outcomes could enforce stricter compliance mandates, fostering technological advancements to deter future risks.
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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 6 technical signals, shows that 2 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 | 0.00307 | 0.0194 | 0.0342 | 0.0505 | 0.0653 | 0.0817 | 0.0965 |
| Fibonacci | 0.0194 | 0.0313 | 0.0386 | 0.0505 | 0.0624 | 0.0698 | 0.0817 |
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