OPEN -443.42% in 24 Hours Amid Sharp Devaluation

On SEP 11 2025, OPEN dropped by 443.42% within 24 hours to reach $0.9957, with the decline continuing to 3062.77% over the past week, month, and year. The sudden and severe price correction has raised questions about the token’s underlying fundamentals and investor sentiment.

The token’s collapse has triggered a broader reassessment of market confidence, with traders and analysts scrambling to identify the catalysts behind the rapid depreciation. No new developments related to the protocol’s technology, governance, or partnerships were reported in the immediate period preceding the drop, leaving the cause of the sell-off largely unexplained. Analysts project that the market will need time to stabilize, with the path forward likely to depend on whether the project can communicate a clear recovery plan.

Technical indicators highlight the extreme volatility and depth of the selloff. Open’s chart shows a breakdown from key support levels, with the price now testing previous multi-year lows. A number of short-term momentum indicators have reversed sharply, suggesting exhaustion among sellers, though the magnitude of the decline may require additional time for consolidation.

Backtest Hypothesis

Given the recent price action, a backtesting strategy has been developed to explore potential trade setups amid the volatility. The hypothesis is based on identifying oversold conditions and testing a mean-reversion approach using the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). The strategy assumes that after a dramatic price drop, a bounce may occur due to algorithmic and retail buying pressure seeking oversold entry points.

The backtest looks for RSI levels below 30 as a potential signal to enter long positions, combined with a bearish divergence on the MACD to filter out false signals. A stop loss is placed at the next significant support level below the entry point, while a target is set at the 50% Fibonacci retracement of the downward move. The goal is to capture short-term rebounds while managing risk in a highly volatile environment.