Upbit Restarts Cryptocurrency Transactions Following Hack Event
Upbit Resumes Services: Upbit has resumed digital asset deposits and withdrawals following a security breach involving Solana tokens, requiring users to generate new deposit addresses and promising full compensation for affected users.
Impact of the Breach: The incident resulted in the theft of approximately $30–37 million in Solana network assets, prompting regulatory scrutiny and highlighting ongoing security challenges in the cryptocurrency market.
Historical Context: This breach recalls a significant hack in 2019 where Upbit lost 342,000 ETH, raising concerns about persistent security vulnerabilities in crypto exchanges.
Proactive Measures: Upbit's swift response and commitment to cover user losses from corporate reserves demonstrate a proactive approach, although experts note that the repeated targeting of the exchange indicates ongoing security gaps.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL 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, SOL 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 $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 61.531 | 69.065 | 76.191 | 83.725 | 90.851 | 98.385 | 105.511 |
| Fibonacci | 69.065 | 74.665 | 78.125 | 83.725 | 89.325 | 92.785 | 98.385 |
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