![edgeX [EDGE] drops 17% amid Vercel hacking concerns](/_next/image?url=https%3A%2F%2Fimages.askfuzz.ai%2Farticle_images%2Fdefault.jpg&w=3840&q=75)
edgeX [EDGE] experienced a 17% decline over the past day, according to reports from AMBCrypto. Despite this significant pullback, technical analysis suggests the drop may represent a short-term reset rather than a breakdown. The cryptocurrency's price action remained constructive on higher timeframes, with several indicators aligning for a potential rebound. Market structure and positioning data pointed to conditions that often precede a recovery phase, with the broader structure staying net positive despite the sharp decline.
Three technical signals converged to strengthen the bullish case for edgeX [EDGE], as reported by AMBCrypto. Price returned to a supply-turned-demand zone that triggered the April 17th rally on the 4-hour chart, with this level continuing to act as critical support. The latest candlestick pattern printed a dragonfly doji, reflecting strong buyer response after intraday selling pressure. This pattern often precedes upward moves, especially when it forms at key support levels. Additionally, price interacted with the lower Bollinger Band, a region commonly linked to support and mean reversion.
Derivatives data added weight to the recovery setup, according to AMBCrypto's analysis. The Liquidation Map showed dense clusters of unfilled orders above current price levels, with the largest concentration sitting near the $1.4 level, suggesting a clear upside target if momentum builds. Funding data supported this view, with the Open Interest-Weighted Funding Rate remaining positive at 0.0041%, indicating that traders with roughly $2.3 million in Open Interest leaned more toward long positions. This sentiment is echoed by the positive Open Interest-Weighted Funding Rate, suggesting substantial trader interest in the upside potential.
Momentum indicators continued to support accumulation, as reported by AMBCrypto. The Accumulation/Distribution line trended upward and stood at 16.67 million, signaling sustained buying activity despite recent losses. The Average Directional Index read 47, confirming that the broader trend retained strength. Even with the recent dip suggesting a cooling phase rather than a reversal, as long as the ADX holds above 25, trend strength persists, keeping the probability of further upside in play. The persistent upward trend in the Accumulation/Distribution line at 16.67 million confirms sustained buying activity across the market.
Adding to market concerns, a serious data security incident has emerged involving Vercel, a cloud-based hosting platform that serves many crypto and Web3 frontends. According to reports, someone claiming to be connected to ShinyHunters has offered Vercel's internal database, access keys, and source code for sale on BreachForums for approximately $2 million, with an initial bid of $500,000 in Bitcoin. The data allegedly offered for sale contains highly sensitive information such as employee account permissions, API keys, NPM and GitHub tokens, which could be used for supply chain attacks. Vercel has reportedly contacted the individual via Telegram requesting that they cease contact with employees, indicating direct communication had taken place between the parties.
