CatPawTapToConfirm

🚨 Tether just minted $2 Billion USDT on Ethereum in the last 3 days.
Big stablecoin supply incoming.

David Schwartz, CTO Emeritus at Ripple, analyzed bridge security vulnerabilities following the $292 million Kelp DAO exploit. He noted that providers prioritized convenience over robust security, undermining essential protective features. The Kelp DAO breach stemmed from a private key leak, exacerbated by a simplified security configuration in their LayerZero implementation.

The Bollinger Bands are showing the middle band at 631.90, with the upper band way up at 646.87 and the lower one at 616.93. We're currently trading below the middle band, which suggests some short-term weakness, but we're still well above the lower band, so no major breakdown yet.
What stands out to me is the Stochastic RSI sitting at a very low 11.29, while the MA Stochastic RSI is even lower at 4.74. That usually signals the asset is oversold in the short term, so we could see some bounce or at least a relief rally soon if buyers step in.
Right now the key levels I'm watching are the recent low around 618 and the resistance zone near 635-640. If it can hold above 618 and the oversold indicators start turning up, we might see a push back towards the middle Bollinger Band and maybe even test 640 again. But if it breaks below 618 convincingly, things could get ugly fast.