BARD +5.44% Amid Technical Indicators Suggesting Short-Term Momentum

On OCT 10 2025, BARD rose by 5.44% within 24 hours to reach $0.7353, marking a brief reversal in a broader downtrend that saw the asset fall by 1334.75% over the past week, 2037.64% over a month, and 3047.5% over a year. Despite this sharp 24-hour gain, the overall bearish trend remains intact, with the move largely interpreted as a technical bounce within a larger correction pattern.

Technical indicators point to a short-term rally but do not signal a reversal of the long-term bearish trend. On the 24-hour chart, BARD surged past key resistance levels, pushing above the 20-period moving average and showing a potential retest of the $0.75 level. This surge appears to have been triggered by a short-covering rally, as some traders closed out short positions after hitting stop-loss levels. However, the volume associated with this rally was not exceptionally high, which suggests limited conviction from major market participants.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show mixed signals. RSI briefly entered overbought territory, indicating a potential pullback, while the MACD histogram showed a narrowing bullish divergence. Both indicators suggest that while momentum is temporarily positive, the overall trend remains bearish. Traders are closely watching for a confirmation of a reversal through a sustained move above the $0.75 level and increased volume.

BARD’s recent price action has sparked renewed interest among technical traders, with many analyzing the setup for potential continuation patterns. The asset remains in a deep bearish channel that has persisted for months, and while the 24-hour gain provides a small reprieve, analysts project that further downside remains a high-probability outcome unless the price can break out convincingly above key resistance and maintain elevated volume.

Backtest Hypothesis

A proposed backtesting strategy focuses on leveraging the recent 24-hour momentum by entering long positions on BARD when the 20-period moving average crosses above the 50-period moving average, combined with a closing price above $0.7350. The strategy employs a stop-loss placed below the previous week’s low of $0.68 and a take-profit target set at $0.78. This approach aims to capture short-term bullish momentum while limiting downside risk in the context of a long-term bearish trend.

The hypothesis is based on the assumption that the 24-hour rally may represent a temporary accumulation phase within a larger downtrend. The strategy does not rely on fundamental analysis but rather on the timing and confirmation of technical indicators. The backtest is intended to assess the effectiveness of using a moving average crossover as a signal generator in a highly volatile asset like BARD, with specific emphasis on risk management.