FLOW Token Plummets 40% Amid Suspected $4M Exploit
- Token Crash: The FLOW token experienced a dramatic drop of over 40% within hours, plummeting from approximately $0.17 to $0.10, which severely impacted market confidence and led to trading volumes exceeding $170 million.
- Security Incident Investigation: The Flow Foundation is investigating a potential security incident affecting the network, with engineering teams actively coordinating with partners to mitigate the issue and provide verified updates, demonstrating a strong commitment to user safety.
- Asset Losses: Analyst Wazz estimated that nearly $4 million in assets were drained through irregular token minting, with the attack potentially involving various tokens, including native FLOW and bridged assets, further exacerbating market unease.
- Exchange Response: South Korean exchanges swiftly suspended FLOW deposits and withdrawals to shield users from further risk, while the Digital Asset Exchange Alliance issued a formal transaction risk warning, highlighting the seriousness of the situation.
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 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 |
About FLOW
About the author
