Flow Blockchain Rollback Raises Concerns in Crypto Community
- Rollback Raises Concerns: Flow's blockchain rollback, executed without coordination with key ecosystem partners, has sparked worries in the crypto community about asset duplication and systemic issues, potentially leading to economic losses exceeding the initial $3.9 million exploit.
- Transaction Validation Halted: The Flow team's decision to halt new transaction validations requires users to resubmit their transactions as the system is now in a read-only state, complicating the situation and impacting user experience and trust.
- Mixed Market Reactions: Major exchanges like Binance have received requests for asset freezes, highlighting growing concerns over Flow's commitment to transparency and user compensation, which underscores the urgent need for improved crisis management in blockchain ecosystems.
- Token Price Plummets: Following the rollback, Flow's token has dropped 42%, currently trading at $0.102 with a market cap of $183.58 million, indicating a significant loss of market confidence in its future prospects.
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Technical Analysis for FLOW
Technical Sentiment Analysis for Flow (FLOW) As of , Flow (FLOW) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 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 | 0.00874 | 0.0222 | 0.035 | 0.0485 | 0.0613 | 0.0748 | 0.0876 |
| Fibonacci | 0.0222 | 0.0323 | 0.0385 | 0.0485 | 0.0586 | 0.0648 | 0.0748 |
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