OPEN plunges by 3609% over the past year as technical indicators show significant decline
- OPEN plummeted 843.31% in 24 hours and 3609% over one year, marking extreme short- and long-term declines. - Technical indicators show bearish signals: RSI at 22 (oversold), failed to reverse without fundamental catalysts, and key moving averages breached. - A backtesting strategy targets short positions below 50-period MA, using RSI divergence or 200-day MA retest as exit triggers. - Long-term bearish bias persists due to lack of momentum divergence and sustained price weakness below critical support le
On September 15, 2025, OPEN plummeted by 843.31% within a single day, reaching $0.9185. Over the following week, it fell a total of 1195.89%, extending to a 3609% decline over the past month and maintaining this loss over the course of the year.
The asset has undergone a steep drop across various periods, with the most pronounced loss occurring in just one day. This rapid decline has considerably weakened major technical indicators, prompting sell signals on several moving averages and oscillators. The daily RSI reads a bearish 22, signaling extreme oversold conditions that, historically, do not reverse unless supported by strong fundamentals.
Technical signals indicate the downward trend is likely to persist, as the asset has not managed to close above either its 50-day or 200-day moving averages. The enduring bearish outlook is further confirmed by the lack of bullish divergence in key momentum indicators, with the price trading well beneath previous support zones that were once considered vital.
Backtesting Strategy
In light of the worsening technical setup and historical price patterns, a backtesting approach has been developed. This strategy involves initiating a short position when the price closes below its 50-period moving average, exiting the trade if the RSI signals divergence or the price rises above the 200-day moving average. Stop-losses are set just above significant resistance points identified from historic price actions. The method is designed to take advantage of the ongoing bearish momentum while reducing risk during potential false recoveries.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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