There is a better way of fixing this. You need to open the system up remove the metal that cools the system (the metal is being held by an X shaped pattern at the bottom) then you need to clean off the paste on the chip and metal, apply new thermal paste, reattach it all and make while having the system plugged in test how tight you need to adjust it. You will know when you get to the homescreen and you haven't RROD..
ALL that towel trick does is makes that old thermal paste rise making it a tighter fit between the chip and the cooling metal bracket. After a while that will dissolve or stop expanding really ending the console s life until somebody like myself refurbishes it.