PROVE -4297.95% in 1 Year Amid Technical Indicators Signal Bearish Momentum

On SEP 21 2025, PROVE dropped by 95.64% within 24 hours to reach $37.3, PROVE dropped by 18.74% within 7 days, dropped by 487.37% within 1 month, and dropped by 4297.95% within 1 year.

The recent collapse in PROVE’s value has sparked renewed scrutiny of its technical indicators and broader market fundamentals. Analysts have observed a consistent bearish divergence in the security’s performance, with price levels and key indicators moving in tandem to signal a continued downward trend. A prolonged selloff has been exacerbated by a lack of institutional or retail buying pressure, compounding the asset’s downward spiral.

The 24-hour drop of 95.64% has been the most dramatic movement in recent memory, marking the fastest rate of depreciation for the asset. While the 18.74% drop over seven days and 487.37% loss over a month represent extended bearish momentum, the 4297.95% annual drop underscores a fundamental shift in sentiment. These movements have rendered traditional recovery mechanisms ineffective, as both short-term and long-term technical patterns remain oversold.

Indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have shown no signs of reversal. The RSI has remained below 30 for an extended period, indicating strong oversold conditions. The MACD has maintained a bearish crossover, further reinforcing the technical narrative of continued downside. These signals, while commonly used for short-term trading decisions, have not produced actionable buy opportunities in the current context.

Backtest Hypothesis

A proposed backtesting strategy aims to evaluate historical price movements of PROVE against a technical model based on RSI and MACD signals. The strategy would use the 14-period RSI and 12/26 EMA crossover of the MACD to determine potential entry and exit points. The model would trigger a sell signal when RSI falls below 30 and MACD line crosses below the signal line, while a buy signal would be triggered when RSI rises above 70 or MACD line crosses back above the signal line. Given the historical context, the backtest would assess how effective these signals were in capturing the magnitude and timing of the recent downturn.