OPEN -3609% in 1 Year Amidst Sharp Technical Deterioration

On SEP 15 2025, OPEN dropped by 843.31% within 24 hours to reach $0.9185, OPEN dropped by 1195.89% within 7 days, dropped by 3609% within 1 month, and dropped by 3609% within 1 year.

The asset has experienced a dramatic decline over multiple timeframes, with the most extreme drop occurring in a 24-hour period. This sharp correction has significantly weakened key technical indicators, triggering sell signals across multiple moving averages and oscillators. The daily RSI stands at a bearish 22, indicating oversold conditions that historically have failed to reverse without fundamental catalysts.

Technical analysis suggests a continuation of the downtrend, with the asset failing to close above its 50-day and 200-day moving averages. The long-term bearish bias is reinforced by the absence of any bullish divergence in momentum metrics, and the price remains well below prior support levels that were previously considered critical.

Backtest Hypothesis

A backtesting strategy has been formulated based on the deteriorating technical environment and historical behavior of similar price movements. The strategy assumes a short position triggered by a close below a 50-period moving average and exits when the RSI shows signs of divergence or when the price reclaims the 200-day moving average. Stop-loss levels are placed above key resistance levels identified from past price action. This strategy aims to capture continuation of the bearish trend by leveraging multiple bearish indicators and minimizing exposure during potential false breakouts.