OPEN surges by 546.19% within 24 hours during a period of market volatility

On September 13, 2025, OPEN experienced a dramatic 546.19% increase in value over 24 hours, reaching $0.9636. Despite this spike, the token saw a 3244.62% drop over the past week, month, and year.

Market analysts have noted a pronounced split in OPEN’s recent price trend, highlighting a rapid shift from negative to positive momentum. The extraordinary 24-hour rally of over 500% was largely attributed to algorithm-driven trading activity and thin liquidity, which intensified price volatility. Although this sharp uptick hints at a potential escape from a prolonged downward trend, the overall performance for the week, month, and year still points to prevailing bearish sentiment. This has led to a complicated on-chain outlook as short-term bullishness collides with persistent long-term weakness.

Fresh data from blockchain sources shows a significant rise in deposits into OPEN’s exchange wallets, likely signaling accumulation prior to the recent price spike. Still, this trend does not necessarily point to lasting optimism, since similar wallets have seen withdrawals in earlier periods. The market reaction seems driven more by short-term speculation and technical trading, rather than a fundamental reassessment of the asset’s value. Accordingly, traders are encouraged to approach the recent rally with caution.

Backtest Hypothesis

The suggested backtesting method relies on a blend of the Relative Strength Index (RSI) and the 50-period Moving Average to pinpoint possible price reversals for OPEN. The premise is that the recent price jump could have been caught by going long when the RSI dropped beneath 30—signaling an oversold market—and the price surpassed the 50-period MA. The plan also incorporates a stop-loss below the 50-period MA and aims for profits with a 1:2 risk-reward setup.

This tactic would demand meticulous monitoring of volatility and strict adherence to exit rules. Due to the token’s high price swings, the backtest must consider factors such as slippage and market influence. Although the approach matches the price surge that occurred on September 13 in theory, its effectiveness would require validation through multiple market cycles and ongoing testing.