The Flow Network is facing one of its most challenging moments following a serious exploit that raised fresh concerns about the network’s security and governance.
As the fallout continues to unfold, the pressure on FLOW has intensified, reflecting growing unease among market participants.
Over the past 24 hours alone, the FLOW price has fallen by roughly 15.25% to around $0.10, extending losses to nearly 39% over the last week.
The crisis began on December 27, when attackers exploited a vulnerability in Flow’s execution layer, draining roughly $3.9 million through a series of cross-chain bridges.
Validators responded by halting parts of the network to prevent further losses, pushing the Flow Network into a read-only state.
To contain the incident, the network underwent a chain restart and upgrades tied to the Mainnet-28 protocol.
Several ecosystem participants criticized Flow Network for inadequate communication and warned that halts and rollbacks could create cascading risks for exchanges and users alike.
As technical concerns mounted, major South Korean exchanges, including Upbit and Bithumb, placed FLOW on investment watchlists, citing the recent security incident and ongoing investigation.
Under South Korea’s Virtual Asset User Protection Act, such a designation can lead to a 60-day review period and potential delisting, weighing heavily on market sentiment, given South Korea’s importance to FLOW trading activity.
Even the possibility of reduced access or liquidity has encouraged traders to exit positions aggressively.
Past precedents involving other tokens under similar reviews have only intensified fears, contributing to the sharp drop in price and the surge in sell-side volume.
Technically, FLOW has broken below several key support levels, including the psychological $0.10 mark.
The selloff pushed the token to a fresh all-time low near $0.097, underscoring the depth of the capitulation.
FLOW price chart | Source: TradingView
Momentum indicators paint a bleak picture, with the daily Relative Strength Index (RSI) falling to extreme oversold territory below 13.
Such readings often signal exhaustion among sellers, but they do not guarantee a sustained rebound.
In addition, FLOW remains well below all major exponential moving averages, reflecting a firmly bearish trend.
Trading volume has also weakened on a longer-term basis, suggesting that buyers are reluctant to step in despite historically low prices.
The broader technical outlook continues to lean bearish.
Out of a basket of commonly tracked indicators, the majority currently point to further downside risk rather than recovery.
While oversold conditions could spark short-lived bounces, the larger structure remains damaged.
On higher timeframes, the weekly RSI sits in neutral territory, indicating that the downtrend still has room to develop.
From a longer-term perspective, the distance between the current price and meaningful resistance levels highlights the scale of the challenge ahead.
For FLOW to signal a genuine trend reversal, it would need to reclaim lost ground well above current levels, including major moving averages.
Until confidence in network security, governance, and exchange support is restored, such a move appears unlikely.
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