Gravity Bridge Suspends Service After $5.4M Attack
- Incident Overview: Gravity Bridge suspended all operations following a security breach that drained $5.4 million from the protocol, highlighting the vulnerabilities of cross-chain bridges in terms of security.
- User Asset Impact: Users are currently unable to transfer assets through Gravity Bridge, with all pending deposits and cross-chain transfers frozen, necessitating caution against initiating new transactions until service is restored, thereby increasing user uncertainty and risk.
- Investigation and Recovery Progress: The team has not provided a timeline for reopening the bridge, and the ongoing investigation lacks a detailed post-mortem report, indicating that the incident response is still in its early stages, prompting users to monitor official channels for updates.
- Security Risk Warning: Cross-chain bridges are high-value targets due to pooled asset management, where a single key compromise can expose the entire fund pool, underscoring the urgent need for robust security measures in the evolving crypto market.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) 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 ETH 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH 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 $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1342.463 | 1472.951 | 1588.563 | 1719.051 | 1834.663 | 1965.151 | 2080.763 |
| Fibonacci | 1472.951 | 1566.962 | 1625.041 | 1719.051 | 1813.062 | 1871.141 | 1965.151 |
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