PROVE Plunges 119.38% Within 24 Hours During Steep Market Decline

On September 20, 2025, PROVE experienced a sharp decline of 31.88% within a single day, dropping to $37.52. Over the previous week, PROVE had surged by 316.19%, but then saw a 426.13% decrease in one month and a massive 4261.24% drop across the past year.

This abrupt 24-hour plunge extended a broader correction trend that has been ongoing for several weeks. Despite the notable 316.19% increase over seven days, this rebound proved insufficient to improve the overall trends for the month and year. Following the steep daily loss, traders observed stronger bearish sentiment, with significant support levels falling below $40 for the first time since early August 2025. Analysts anticipate that the price may decline further if it remains unable to reclaim these crucial support areas.

Technical analysis indicates worsening conditions for PROVE, as both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have shifted from overbought to oversold readings during the last week. The RSI fell below 30, pointing to increased downside risk, while the MACD histogram showed a narrowing gap, signaling that the recent bullish momentum is losing strength. These technical signals are consistent with the observed price moves, suggesting the correction phase is not yet over.

Backtest Hypothesis

One suggested backtesting approach for PROVE uses a trend-following strategy based on both the 50-period and 200-period moving averages. The system generates a buy signal when the 50-period average crosses above the 200-period average, and a sell signal when it moves below. This method was evaluated using a rolling 30-day timeframe after the July 2025 rally, revealing a net loss in the past 60 days. While the approach did well earlier in the year, it has struggled during the ongoing correction, highlighting how heightened volatility and unclear trends have reduced its effectiveness. This points to the importance of employing more flexible or volatility-sensitive strategies in the current market climate.