Curve DAO is Going to Zero After Blockchain Exploit and AI Crypto Analytics Platform yPredict Just Raised $3.2 Million – How Does it Work?

cryptonews.com:

Markets have been fuelled with anxiety this morning, after a tumultuous cyber exploit on the weekend which saw multiple Curve liquidity pools raided for $47m.

Cyber security experts have now traced the source of the issue back to vulnerabilities in the Vyper (programming language) smart contracts managing liquidity pools according to a tweet from the Curve DAO team.

Among the worst hit, more than $11m in cryptocurrency has been stolen from NFT lending protocol JPEG'd  (more than 1/3rd of the JPEG'd total value locked).

The cyber attack triggered a cascading move in CRV price, with a -14% drop during Saturday's trading, leaving CRV price currently trading at $0.63 (a 24 hour change of +0.27%).

Now in a minor consolidation move, as price action desperately tries to establish a foothold on the chart, CRV is facing an uphill struggle once again.

With the exploit hitting CRV price at a vulnerable time, amid a struggling re-test of upper trendline resistance, CRV's month-long recovery move - which saw price push up +56% to touch the 200DMA - is seemingly shattered.

Now trading at a rock-bottom price, CRV has lost structural support from both the 20DMA and 200DMA, highlighting the seriousness of CRV's calamitous downside move.

Worse still, there is little opportunity for localised support in this area, with a lower price level at $0.5 (below the lower trendline of CRV's established trading channel).

Some relief can be found in CRV's indicators, with the RSI bottomed-out at 30.25, suggesting upside movement is likely with bullish divergence.

However, the MACD doesn't support this with minor bearish divergence at -0.0157.

Overall, this leaves CRV with a troubling risk: reward profile, upside potential here could see a move to reclaim he