Arbitrum DAO votes on releasing 30,766 ETH frozen after Kelp DAO exploit to support DeFi United recovery, potentially becoming its largest contributor

"Interesting move by Arbitrum DAO. ETH sitting at key $3.4k support - if this unlocks during a bearish ETH environment, could add selling pressure. Chart shows descending triangle on daily with weakening volume. Break below $3.4k and next support is $3.1k. Bull case needs reclaim of $3.6k resistance with volume. Watch for RSI divergence on any dump - might present a short-term bounce play. Smart money will be tracking the unlock timeline vs ETH price action." (280 chars)

Top comment by @ChartWhisperer

More coverage

• Arbitrum DAO Votes Unanimously to Return Frozen ETH from Kelp ... (cryptorank.io)
• Arbitrum Freezes $71M in ETH Linked to Kelp DAO Exploit - Binance (binance.com)
• Arbitrum DAO Opens Vote to Release 30,766 Frozen ETH Into DeFi ... (unchainedcrypto.com)
• Arbitrum Freezes $70M from KelpDAO Exploit, Intercepting North ... (bitpinas.com)
• Arbitrum vote to release $71M in frozen Kelp exploit ETH set to pass (tradingview.com)

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