Three Things to Know The FBI tied the roughly $6 billion Binance theft to North Korea's TraderTraitor hackers and flagged hundreds of Ethereum addresses. Solana's momentum gauge has slid onto
The FBI confirmed that North Korean hackers stole billions from Binance last week. The bureau asked crypto services to block hundreds of wallets, and nearly all of them sit on Ethereum.
That puts ether in the path of laundering flows, since the hackers are converting loot into ETH. Solana faces lighter direct exposure but has fallen harder this month. Traders now want to know which coin finds buyers first as Binance reopens withdrawals.
The FBI confirmed that North Korea's TraderTraitor group, a subunit of the Lazarus hackers, stole about $6.4 billion from Binance last Thursday. The bureau asked DeFi services, node operators, instant exchanges and analytics firms to block transactions tied to the theft.
Its list covers more than 600 Ethereum addresses and just under 20 Bitcoin addresses. Only a single Solana address appears. The stolen funds are moving mainly into ether. Investigators expect the hackers to launder it through swaps, bridges and other DeFi tools.
Some of the loot is already stuck. Stablecoin issuers froze over $2.4 billion of the stolen funds. Binance said it has replenished 90% of the missing crypto and plans to resume withdrawals on Sunday, Nov 1.
The trail will likely get messier. Chainalysis CEO Jonathan Levin said the attackers have already used thousands of addresses. He expects tens of thousands more in the coming weeks, driven by "novel automated laundering mechanisms."
President Trump said "we're learning about it" and added that he would talk to North Korea.
Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView
Ether traded near $2,270, flat on the day but down about 4% over the week. The bigger picture is worse. The token has lost about 16% in a month, and sellers have set the pace for most of that slide.
Both key moving averages now sit overhead. The 50-day average, which tracks the past ten weeks of prices, is near $2,420. The 200-day average, a gauge of the longer trend, is around $2,320. With price below both, each line acts as a ceiling that rallies must break through.
The hack adds a specific risk for ether. Laundering the stolen ETH means selling it somewhere down the line. That creates a steady supply overhang while the trail of addresses keeps growing.
Momentum offers little relief so far. RSI, a 0 to 100 gauge of momentum, reads 34. That is weak, though still above the oversold mark of 30 where bounces often start. The MACD indicator remains below its signal line, which means downside momentum has not turned yet.
Sellers lead the trend, and buyers have not shown up in size to challenge it.
The levels on the daily chart are clear. Bulls first need to reclaim resistance near $2,360, which sits just above the 200-day line. A close above it would open a path toward $2,560.
On the downside, nearest support stands around $1,940. A break there would leave ether exposed to the next floor near $1,850. For now, the price sits in the middle, and the trend still favors the bears.
Solana (SOL) daily price with the nearest support (green) and resistance (red). Source: TradingView
Solana traded near $95.55, flat on the day. It fell 7% over the week. Its monthly loss of about 20% is steeper than ether's, so sellers have hit SOL harder.
That gap matters because the hack barely touches Solana directly. The FBI flagged just one address on its network. Any selling pressure here comes from the broader market mood rather than laundered coins.
The chart still looks heavy. The 200-day average sits near $98.22, and the 50-day is higher, around $104. Price trades below both, so each line now works as a ceiling.
RSI has dropped to 30, right at the oversold threshold. That is a deeper washout than ether's reading, and it often marks the zone where selling starts to tire. The MACD remains below its signal line, though, so momentum has not turned. Buyers have a setup, but no confirmation yet.
The first hurdle is the round-number mark just above the 200-day line. A clean break would put $106 in play, close to the 50-day average.
Support sits much lower, near $77.84. Below that, the next floor is around $70.58. That wide gap means a failed bounce could leave room for a sharp drop.
The next few sessions hinge on how smoothly Binance reopens and how fast the stolen ether moves.
Solana looks better placed to rebound first. Its RSI already sits in oversold territory, and the FBI list barely touches its network. Ether still carries the direct weight of the laundering flows.
The risk cuts across both coins. If the hackers spread funds over tens of thousands of new addresses, steady ether selling could drag the whole market lower.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
