CHR -93.95% in 24 Hours Amid Sharp Market Correction

On SEP 3 2025, the price of CHR has dropped by 93.95% within the past 24 hours, falling to $0.0945. Over the last week, the decline has continued, with the asset losing 73.22% of its value. Over the past month, the drop amounts to 104.28%, and over the last year, the total loss is a staggering 5921.79%. These figures reflect a severe correction in CHR’s price, indicating a significant shift in market sentiment and investor confidence.

The recent volatility suggests a market environment characterized by intense selling pressure and heightened risk aversion. No specific on-chain events or regulatory developments have been cited as direct causes for the drop. Analysts project that continued outflows and weak macroeconomic sentiment may prolong the bearish trajectory in the near term. The absence of immediate catalysts has led some to suggest that the decline is a result of broader market dynamics rather than asset-specific issues.

Technical analysis of CHR shows that the price has broken through key support levels and is now operating in a strong downward trend. The 200-day moving average has been decisively undercut, and the RSI is in deep oversold territory, a signal that could either indicate a potential rebound or confirm a continuation of the downtrend. The asset's price behavior aligns with a classic bear market pattern, with momentum indicators reinforcing the severity of the downward move.

Backtest Hypothesis

A proposed backtesting strategy for CHR involves a momentum-based approach that triggers sell signals when the price closes below its 50-day and 200-day moving averages, with a stop-loss set at 10% below entry. A buy signal would be generated only after a 50% recovery in price from the low, with a trailing stop to lock in gains. This strategy is designed to capture sharp corrections while minimizing exposure during volatile declines. The strategy would be tested using historical price data from the past 12 months to evaluate its performance under extreme market conditions like the current downturn.