Key Takeaways
- BAL has fallen about 12% in the past 24 hours, dropping below $0.90.
- If the downtrend continues, the token could retest the April 8 low near $0.739.
BAL Falls Below $0.85 After Major Balancer Exploit
BAL, the native token of the Balancer platform, lost roughly 5% of its value in the last 24 hours and is among the weakest performers across crypto markets. The recent decline intensified after Balancer, a decentralized finance (DeFi) protocol, suffered a significant exploit on Monday that resulted in the loss of approximately $110 million in digital assets.
Reportedly, the stolen assets included osETH, WETH and wstETH. The attacker withdrew 6,850 osETH, 6,590 WETH and 4,260 wstETH from Balancer pools. Security firm Decurity identified the vulnerability as a faulty access control check inside the protocol’s manageUserBalance function.
This flaw allowed the attacker to trigger internal-balance withdrawals from Balancer smart contracts without proper authorization, enabling the large-scale drain.
Continued Sell-Off Could Push BAL Below $0.80
Since news of the exploit emerged, BAL has declined about 12% overall and lost a key daily support level at $0.915. The four-hour BAL/USD chart shows a rapid sell-off that has left the pair in a bearish and inefficient state, with increased volatility and weaker bid support.
Technical indicators back the bearish narrative. The daily RSI sits near 43, below the neutral 50 level and signaling downside bias. MACD lines crossed into negative territory over the weekend, further confirming downside momentum and growing selling pressure.
With the $0.9150 support broken, bulls now face the task of defending the next meaningful support around $0.735. That level has held since April 8, and a failure there could open the door to an annual low for BAL.
Conversely, a recovery would require BAL to reclaim the $0.9150 area in the coming hours or days. Regaining that level could allow the token to challenge the psychological $1.00 mark again and restore short-term market confidence.
Traders should remain cautious and monitor on-chain developments from Balancer’s team and security firms, as further disclosures or recovery actions could influence price action. Risk management remains essential given the heightened uncertainty after the exploit.