November Sees DeFi Hacks Exceed $127M, With Balancer Suffering the Most at $113M
November DeFi Losses: The month ended with $127M in confirmed losses across decentralized finance platforms, primarily due to a significant breach at Balancer, which accounted for $113M of the total.
Security Improvements: Despite the rise in hacks, analysts noted advancements in open finance, including stronger audits, rapid fund freezes, and improved on-chain security frameworks, indicating ongoing ecosystem progress.
Causes of Losses: Major losses were attributed to code flaws, which exposed over $130M, alongside wallet breaches totaling about $33M, while phishing attacks decreased significantly.
Resilience of DeFi: The spike in hacks highlighted structural vulnerabilities but also demonstrated the ecosystem's ability to enhance defenses quickly, maintaining momentum in decentralized finance despite challenges.
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Technical Analysis for BAL
Technical Sentiment Analysis for Balancer (BAL) As of , Balancer (BAL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BAL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BAL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Balancer (BAL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.201 | -0.0228 | 0.119 | 0.297 | 0.439 | 0.617 | 0.759 |
| Fibonacci | -0.0228 | 0.0994 | 0.175 | 0.297 | 0.419 | 0.495 | 0.617 |
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