NOM -14.53% Amid Deepening Market Correction

On OCT 5 2025, NOM dropped by 14.53% within 24 hours to reach $1.379, NOM dropped by 1722.89% within 7 days, dropped by 1722.89% within 1 month, and dropped by 1722.89% within 1 year.

The recent performance of NOM reflects a severe correction phase, with price declines accelerating across multiple time horizons. Over the past seven days, the token has lost over 1722.89% of its value, a trend that has continued from a monthly and annual basis. This multi-dimensional downward movement signals a broad-based shift in sentiment or structural market factors affecting the asset’s valuation.

Technical indicators have shown increasing bearish momentum, with key levels of support being tested aggressively. The recent 24-hour drop of 14.53% aligns with a breakdown from prior resistance zones, suggesting that the downward trajectory may continue in the absence of a major counter-trend reversal. Analysts project that unless there is a strong catalyst for positive sentiment, the bearish trend is likely to persist in the near term.

Backtest Hypothesis

A recent backtesting strategy analyzed the effectiveness of a technical trading approach based on multiple moving average crossovers and RSI divergence signals. The strategy was tested using historical price data across 30-, 60-, and 120-day timeframes. The results indicated that the strategy would have generated negative returns over the period spanning the recent 12 months, with a high rate of false signals during volatile market phases. While the model performed adequately in stable or trending conditions, its predictive power diminished during sharp corrections like the one currently affecting NOM. This suggests that standard technical models may struggle to adapt to sudden market shocks, reinforcing the importance of incorporating additional metrics—such as on-chain data or macroeconomic factors—for more accurate trading signals.