KelpDAO just got hit with a massive exploit, draining roughly $294 million in assets. The attacker minted 116,500 $RSETH tokens valued at $294 million, then sold them off and leveraged the proceeds as collateral to borrow 106,467 $ETH worth $250 million. This mirrors the growing threats in DeFi exploits involving unauthorized token minting, echoing KelpDAO's role as a liquid restaking protocol on Ethereum where wrapped ether vulnerabilities have stranded funds across chains in past incidents. Traders eye this amid broader crypto market crash signals, with ETH price prediction turning cautious as security lapses fuel volatility.

Zooming into the 4-hour ETH chart, price action clings to a bullish structure above the EMA200 at $2187.36, but confluence screams caution—MACD just flashed a death cross at 13.93, signaling bearish momentum while RSI hovers neutral at 49.61. Price tests the middle of Bollinger Bands, sandwiched between upper resistance at $2433.88 and lower support at $2297.95; if volatility spikes from this exploit, expect a probe toward the EMA50 at $2313.65 as buyers defend the trend before any real upside resumption, especially with Bitcoin and BTC hovering in correlated ranges.