ERA -63.95% in 24 Hours Amid Sharp Downtrend

On SEP 10 2025, ERA dropped by 63.95% within 24 hours to reach $0.00082973, with a 43.92% decline in the past 7 days and a 541.48% drop over the last month. Over the trailing 12-month period, the token has fallen by an alarming 4661.23%, signaling a severe correction in its market valuation.

The token has shown no signs of stabilizing, with its price continuing to fall within a tightly defined bearish channel. The 20-day exponential moving average has remained well above the current price, confirming the dominance of downward momentum. Analysts have noted the absence of short-term support levels that might have otherwise offered a reprieve, leading to concerns about further price erosion in the near term.

The price movement aligns with a broader technical narrative characterized by deteriorating on-chain activity and weak trading behavior. A lack of buying pressure has left the asset vulnerable to large sell orders, which have rapidly accelerated the downward trajectory. Historical data shows that in similar conditions, tokens often enter a phase of consolidation only after experiencing extreme volatility and liquidity crunches.

The bearish scenario is reinforced by key technical indicators such as the Relative Strength Index (RSI), which has fallen below 30, signaling oversold territory. While such levels can occasionally precede rebounds, the broader context of a prolonged downtrend and weak volume profile suggests that any bounce is likely to be short-lived.

Backtest Hypothesis

A backtesting strategy has been devised to evaluate potential entry points based on the RSI and price action signals observed. The strategy assumes a long position is taken when the RSI crosses above 30 with a confirmation candle forming above the 20-day EMA. A stop-loss is placed below the most recent swing low, while a take-profit is set at the nearest resistance level. The hypothesis is that even in a bear market, brief countertrend opportunities may exist in highly oversold conditions. However, given the current weakness in the broader environment, the win rate and risk-reward ratio are expected to be suboptimal, making the strategy more suitable for educational or conservative risk-managed portfolios.