THORChain Suspends Trading After $10 Million Exploit
- Security Breach Impact: THORChain suspended trading operations after attackers drained over $10 million across multiple blockchain networks, significantly impacting liquidity providers and exacerbating concerns regarding decentralized finance (DeFi) infrastructure security.
- Emergency Mechanism Activated: Following the detection of suspicious outflows, THORChain triggered its emergency mechanism to halt all trading and swapping activities, with network validators quickly stopping key services to protect liquidity, demonstrating a strong commitment to user asset security.
- RUNE Price Plummets: In the wake of the security incident, RUNE token dropped nearly 12% within hours, while trading volume surged nearly 140% in 24 hours, reflecting strong market reactions and increased speculative activity following the exploit.
- Cross-Chain Protocol Risks: This incident highlights the security risks associated with cross-chain liquidity protocols, as attackers exploit communication layers between blockchain networks, prompting several protocols to enhance monitoring and emergency controls to address increasingly complex security challenges.
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Technical Analysis for RUNE
Technical Sentiment Analysis for THORChain (RUNE). As of , THORChain (RUNE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RUNE 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, RUNE 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 $-.
THORChain (RUNE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.365 | 0.391 | 0.414 | 0.44 | 0.463 | 0.489 | 0.512 |
| Fibonacci | 0.391 | 0.41 | 0.421 | 0.44 | 0.459 | 0.47 | 0.489 |
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