The KelpDAO hacker kicked off ETH laundering yesterday afternoon, moving roughly 34,500 ETH valued at $80 million so far. Most of these funds swapped into BTC through THORChain, handing the cross-chain protocol a hefty fee windfall as its 24-hour trading volume exploded to $360 million from a prior daily average of just $20 million. This surge underscores rising crypto hacking incidents and their impact on decentralized exchanges, especially as Bitcoin remains a go-to haven for illicit transfers in the volatile crypto market crash environment we've seen over the last six months.

Zooming into the ETH 4-hour chart, price action holds firm in a bullish structure with the asset trading at $2327.72, comfortably above the EMA200 support at $2212.09 that has anchored rebounds in recent months. The EMA50 at $2312.59 acts as immediate dynamic support, confluence here with a neutral RSI at 51.44 signaling no immediate exhaustion while the MACD flashes a bullish golden cross despite its -4.94 reading. Price dances inside the Bollinger Bands, testing the upper resistance at $2355.24 which could cap short-term upside, but a break above targets fresh highs—watch for a dip to the lower band support at $2273.66 if volatility spikes, aligning with broader ETH price prediction models favoring continuation amid macro tailwinds.