OPEN jumps 347.62% in 24 hours due to rapid market fluctuations

On September 21, 2025, OPEN experienced a dramatic 347.62% increase in value within a single day, climbing to $0.9613. Over the past week, the token soared by 1178.44%. Despite these impressive short-term gains, the asset has faced steep losses of 3239.04% both over the last month and year, underscoring the extreme volatility and instability in its recent performance.

This surge over the previous 24 hours and week has attracted significant attention from both traders and market observers. Nonetheless, the broader bearish trend remains unbroken. Even with this sharp short-term rebound, the larger market continues to digest macroeconomic trends and internal structural changes, which have contributed to the pronounced downturns observed in the monthly and yearly timeframes.

From a technical perspective, the recent jump in OPEN’s price appears to result from breaking through a long-established support level. This breakout triggered stop-losses and attracted automated buying, fueling further upward momentum in the short term. Yet, analysis of the daily price chart reveals that both the 50-day and 200-day moving averages are still well below the current price, signaling that the overall trend remains downward. The disconnect between short-term momentum and long-term indicators reflects the conflicting signals in the market, making future price predictions more challenging.

Experts suggest that while the immediate rally may continue briefly, a prolonged upward trend is unlikely unless there is a fundamental improvement in market conditions. The asset’s long-term direction is closely linked to wider macroeconomic factors, and without a distinct shift in economic data or a notable change in investor outlook, the prevailing downward trend is expected to persist despite temporary volatility.

Backtest Hypothesis

To investigate possible trading tactics during this period of heightened volatility, a backtest was performed using a technical approach that mirrors the asset’s recent movements. The strategy entails initiating a long position after a confirmed breakout above a support level that has turned into resistance, with a stop-loss set just below the breakout to control risk. The target is placed at the next psychological resistance, which has previously acted as a price ceiling in recent months.

This method aims to leverage short-term upward momentum while minimizing exposure to the overarching downward trend. The rules are straightforward: buy when the price breaks above the key level on strong volume, and hold until either the profit target is met or the stop-loss triggers. According to recent price behavior, this strategy would have entered during the initial breakout phase, capturing the bulk of the 24-hour surge. However, it does not account for the ongoing long-term decline, highlighting the importance of caution when trading based solely on short-term patterns.