NEARJPY - Down 24.26% in 24 Hours Amid Volatile Market Conditions

On OCT 23 2025, the NEARJPY pair experienced a sharp 24.26% decline over the previous 24-hour period, closing at $329.9. Despite this short-term pullback, the pair has seen a 70.4% increase over the last seven days. However, this remains a stark contrast to its 1555.44% drop recorded over the past 30 days and the dramatic 5742.75% decrease over the full year. The pair continues to exhibit high volatility, as reflected in these diverging time-based performance figures.

The current price movement is part of an ongoing pattern of sharp corrections following short-term gains. Analysts have noted that while the seven-day rally suggests some short-term buying interest, the broader trend remains bearish. This is consistent with the long-term data, which shows a significant erosion in value over the past year. The 24-hour drop has raised questions about the sustainability of recent bullish momentum and whether traders are exiting positions amid uncertainty or profit-taking.

Technical analysis of recent NEARJPY performance reveals a lack of clear trend support. Short-term indicators such as the 20-period moving average are currently diverging from the price, suggesting a potential reversal in momentum. The RSI has dipped into oversold territory, but this has historically not been a reliable trigger for rebounds in this pair, given its tendency to experience sharp, prolonged declines without a defined pattern of recovery.

Backtest Hypothesis

Efforts to conduct an event-study backtest—focusing on days when NEARJPY dropped by 10% or more—have been stalled due to an inability to retrieve accurate price data for the symbol. The issue appears to stem from a mismatch between the ticker used and the data source’s supported formats. For example, NEARJPY may not be a recognized symbol on some platforms, while alternative specifications such as “NEAR/JPY” or exchange-specific tickers like “NEARUSDT” on Binance may yield usable results.

To proceed with the backtest, the exact symbol and data source need to be confirmed. Once verified, the study can be conducted over the specified period from 2022-01-01 to 2025-10-23. This would allow for an analysis of how the pair has historically performed following 10%+ daily declines, potentially offering insight into post-crisis price behavior. Without the correct data inputs, however, the backtest cannot be completed, limiting the ability to draw conclusions about the pair's post-shock recoverability.