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Ethereum under pressure: Verus bridge breakdown threatens $2,100 level

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Ethereum price is clearly under selling pressure, barely struggling to hold the $2,100 level, at a time when new protocol risks have created additional bearish expectations. A hack targeting a cross-chain bridge caused a loss of more than $11 million, shaking confidence at a critical time for the market.

The Verus-Ethereum bridge was the target this time; The attacker mined 103.6 tBTC, 1,625 ETH, and 147,000 USDC, before converting this proceeds into 5,402.4 ETH, worth just over $11 million. This hack follows a difficult pattern seen this year, with Kelp DAO losing approximately $293 million in April through LayerZero’s messaging system, and the Drift attack earlier in the year adding another $270 million to the list of growing losses in the industry.

Bridge breaches continue to record the highest single-digit losses each year, and oracle and protocol vulnerabilities remain a persistent systemic threat to cryptocurrency infrastructure.

Ethereum Price Forecast: Reclaim $2,200 Before Bears Take Control

ETH is currently in a bearish to neutral consolidation phase, with a scarcity of near-term catalysts that could reverse this trajectory. The current price stands at $2,110 with the Relative Strength Index (RSI) reaching 34, indicating weak overall momentum.

Key levels define the scope of the impending movement; Support lies directly at $2,100, and any close below this level could open the door for further decline in the absence of clear technical patterns. On the other hand, resistance is gathered at $2,200, then $2,250 if Ethereum manages to make a convincing breakthrough.

  • Ascension Scenario: ETH consolidated above $2,100 as trading volume increased and regained the $2,250 level, with analysts expecting the price to reach an average of $2,425.
  • Basic scenario: A choppy movement between $2,100 and $2,200 as the market digests the consequences of the breakout and awaits ETF inflows.
  • Landing scenario: A close below the $2,100 level with high trading volume would completely negate the consolidation thesis, putting the next real support level significantly further away.

Data on on-chain liquidity and decentralized finance (DeFi) market structure suggests that the recent hack adds obstacles to any recovery attempts, as liquidity outflows from smaller DeFi projects have already started to be seen. Therefore, Ethereum needs a real catalyst and not just a passing technical rebound.

LiquidChain project aims to solve liquidity crisis as Ethereum tests its critical levels

As Ethereum consolidates near its six-week low and bridge infrastructure continues to be compromised, DeFi participants are asking a pressing question: What does a more secure, unified liquidity architecture look like?

The current hashing of isolated assets on the Bitcoin, Ethereum, and Solana networks is what makes bridges high-value attack targets. To be clear, Kelp DAO’s $293 million loss was caused by a LayerZero messaging system failure, not a smart contract issue.

https://twitter.com/getliquidchain/status/1988272292158403044

LiquidChain emerges as a layer 3 infrastructure project aimed at creating so-called “cross-layer liquidity,” which aims to integrate BTC, ETH, and SOL liquidity into a single execution environment. The project architecture is based on four main components: a unified liquidity layer, single-stage execution, verifiable settlement, and a “single deployment” model that allows developers to access all three systems without having to redeploy their applications on each chain separately.

The pre-sale token is offered, $LIQUIDcurrently at the price $0.0146The project managed to collect 770 thousand dollars Again. The project also offers a staking reward of up to 1,500% APY Exclusively for first time buyers.

The article Ethereum under pressure: Verus bridge breach threatens $2,100 level appeared first on Cryptonews Arabic.

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