Market Overview for Epic Chain/Tether (EPICUSDT)

• Price declined from 1.86 to 1.683 over 24 hours, forming bearish momentum.
• Volatility expanded with a range of 18.5 cents, indicating active selling.
• A 15-minute doji near 1.753 suggests indecision, potentially a short-term support.
• RSI dropped below 30 early, hinting at oversold conditions but bearish continuation.
• Bollinger Bands show price hovering near the lower band, reinforcing oversold bias.

Epic Chain/Tether (EPICUSDT) opened at 1.816 on 2025-10-03 16:00 ET and closed at 1.683 on 2025-10-04 12:00 ET, reaching a high of 1.866 and a low of 1.681. The pair recorded total volume of 1,401,262.4 and notional turnover of $247,539.89 over the past 24 hours. The price trend has remained consistently bearish, with key support levels forming around the 1.70–1.73 range and a critical 1.75 psychological threshold.

Structure & Formations

The 15-minute chart reveals a clear bearish trend with multiple bearish engulfing patterns forming between 1.80 and 1.75. A doji formed near 1.753 in the overnight session, suggesting a potential short-term support level. The price has since tested this level and is currently consolidating below it, indicating a possible continuation of the downward move. A strong bearish flag pattern is visible from the 1.866 high to the 1.681 low, with volume tapering off near 1.68–1.69, suggesting a potential consolidation phase.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages are both bearish, with the price sitting well below both. On the daily chart, the 50- and 200-period moving averages have crossed in a bearish “death cross” formation, reinforcing the short-term downtrend. These indicators suggest that the asset is in a strong bearish phase and any rebound above the 1.73–1.74 level may only serve as a short-term relief.

MACD & RSI

The MACD is in negative territory with bearish divergence forming in the early morning hours, indicating continued sell pressure. The RSI has remained below 30 for most of the day, signaling oversold conditions, but the bearish momentum remains intact. A bounce to the 1.75–1.76 level is likely to be met with resistance, with the RSI needing to cross above 50 to confirm any meaningful reversal. For now, the bearish momentum appears to be well-supported by both momentum and volume.

Bollinger Bands

Bollinger Bands show an expanding volatility profile, particularly between 1.80 and 1.70. The price has spent most of the last 24 hours near or below the lower band, reinforcing the oversold condition. A contraction in the bands is visible in the early morning hours, suggesting a potential reversal setup. However, the price has not yet found enough buyers to push it back toward the middle band, and the bearish trend appears to have more legs.

Volume & Turnover

Volume has been unevenly distributed, with a major spike seen in the 17:15–17:30 ET timeframe as the price dropped from 1.83 to 1.78. Since then, volume has been lower, indicating reduced conviction in the move lower. Turnover has remained fairly consistent at $10,000–$15,000 per hour, suggesting limited institutional participation. A divergence between volume and price is not evident, but a sudden increase in volume could signal a shift in sentiment or a trap.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 1.866–1.681 swing, key levels include 1.762 (61.8%), 1.784 (50%), and 1.797 (38.2%). The price has found minor support near 1.75, below the 61.8% level, suggesting a possible consolidation phase. If the price breaks below 1.68, the next major Fibonacci level would be 1.663 (78.6%). On the daily chart, the 0.5 and 0.618 levels from the previous leg are around 1.78 and 1.80, which could act as overhead resistance if the price reverses.

Backtest Hypothesis

The backtesting strategy proposes a mean-reversion approach triggered by RSI hitting oversold levels (RSI < 30) and confirmed by a bullish engulfing candle on the 15-minute chart. This setup would aim to capture short-term rebounds from strong support zones. Given the current price hovering near 1.68 and the RSI near 30, a potential entry point for a short-term reversal could be triggered if a bullish candle closes above 1.695. However, the larger bearish trend remains intact, and such trades should be approached with strict stop-loss levels below the 1.68–1.67 range to mitigate risk in case the bearish move continues.