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 4 technical signals, shows that 1 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 stock.
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 | 15.928 | 41.714 | 67.278 | 93.064 | 118.628 | 144.414 | 169.978 |
| Fibonacci | 41.714 | 61.33 | 73.448 | 93.064 | 112.68 | 124.798 | 144.414 |
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