OPEN rises by 16.32% within 24 hours during significant market pullbacks

On September 13, 2025, OPEN surged by 16.32% in just 24 hours to reach $0.9169. However, the token has suffered a steep drop of 3586.01% over the past week, the last 30 days, and the previous year.

Recent activity highlights intensified price swings for the OPEN token, with significant corrections occurring across various periods. Although there was a strong daily gain, the overall trend still signals a substantial decline from previous highs. Investors and traders are keeping a close eye on critical support and resistance zones, as technical analysis points to the possibility of ongoing volatility.

The latest price jump might simply be a temporary rebound within an overarching downward trend, potentially influenced by trading algorithms or minor inflows of capital. The market remains wary, as the asset has yet to show consistent stability beyond the recent 24-hour performance. Experts warn that unless there is a considerable shift in demand or a major event on-chain, the prevailing downtrend could continue.

Technical analysis tools, like moving averages and the RSI, reveal either overbought or oversold signals depending on the timeframe, but conflicting indicators suggest uncertainty about the next move. The MACD has leveled off, hinting at a loss of momentum. Such metrics are commonly utilized in systematic trading approaches to try and benefit from short-lived price movements when a clear trend is absent.

Backtest Hypothesis

An outlined backtesting approach aims to assess the potential returns of trading the OPEN token using a set of technical criteria focused on price action and momentum. This system pairs moving average crossovers with specific RSI values to trigger buying and selling decisions. The premise is that strict technical methods—without considering external news or fundamentals—can still produce gains in a turbulent market.

This methodology employs the crossover of the 50-period and 200-period EMAs as the main signal, with an RSI below 30 confirming a buy and an RSI above 70 signaling an exit. Stop losses are set at significant support areas tracked over the past month. The framework is tested in a simulated setting to gauge its ability to capitalize on short-term rallies while keeping losses in check.