Key points
- BAL fell 12% in the past 24 hours and dropped below $0.90.
- If the bearish trend continues, the coin could retest the April 8 low of $0.739.
BAL falls below $0.85 after Balancer hack
Balancer’s native token BAL lost roughly 5% of its value in the past day and is among the worst-performing tokens on the market. The bearish move accelerated after the DeFi protocol suffered a major exploit on Monday, resulting in about $110 million in digital assets being drained.
Reports indicate the stolen assets included osETH, WETH and wstETH. The attacker withdrew 6,850 osETH, 6,590 WETH and 4,260 wstETH from the Balancer platform. Security firm Decurity said the breach was caused by an access control flaw in the manageUserBalance function.
This vulnerability allowed the attacker to trigger internal-balance withdrawals from Balancer’s smart contracts without proper authorization, enabling the large loss of funds.
If selling continues, BAL could fall below $0.80
Since reports of Monday’s hack, BAL has dropped about 12% and lost a key daily support level at $0.915. The BAL/USD 4-hour chart turned decisively bearish following the sharp sell-off recorded by the pair.
Technical indicators are also tilted toward the downside, signaling strong selling pressure. The daily RSI sits at 43, below the neutral 50 level and in bearish territory. The MACD line moved into negative territory over the weekend, reinforcing the bearish bias.
After breaking $0.9150, bulls must defend the next major support around $0.735. That level has held since April 8, and a failure to hold it could send BAL toward a year-to-date low.
If BAL manages to recover from the recent slide, it would first need to reclaim the $0.9150 area — a level that would act as resistance after the breakdown. A sustained move above that point could allow the token to challenge the psychological $1.00 mark again.