Market Overview for EPICUSDT – Epic Chain/Tether

• Price dropped 8.8% from $2.021 to $1.875 on heavy bearish momentum after midday ET.
• High volatility seen with Bollinger Band expansion and oversold RSI conditions.
• Volume surged past $185k at 00:45 ET, confirming a major bearish breakdown.
• Key support appears at $1.86–1.88 range with potential for further downside.
• Fibonacci levels suggest possible rebounds from 61.8% retrace at $1.89 and 38.2% at $1.92.

Epic Chain/Tether (EPICUSDT) opened at $2.021 on 2025-09-21 12:00 ET and closed at $1.875 as of 12:00 ET on 2025-09-22. The 24-hour period saw a low of $1.845 and high of $2.027. Total volume traded was 1,635,464.3 EPIC tokens, with a notional turnover of approximately $3,102,318.33.

Structure & Formations

The 24-hour chart displayed a clear bearish trend, with a key breakdown occurring at $1.924 after 00:45 ET. Price action confirmed a sharp move down into a 61.8% Fibonacci retracement level at $1.89 and continued to test support at $1.85–1.86. A bearish engulfing pattern formed at $2.015–1.997, followed by a deep bearish continuation with no significant bullish reversal signals. A doji formed at $1.885–1.886, hinting at temporary indecision.

Moving Averages

On the 15-minute chart, the price closed below its 20SMA and 50SMA, reinforcing bearish momentum. Daily moving averages (50DMA, 100DMA, 200DMA) remained aligned with the downward bias, with the price well below all three. The 50DMA at $1.93 and 200DMA at $1.96 acted as dynamic resistance levels that the price failed to cross.

MACD & RSI

The MACD turned negative with bearish divergence, confirming the price move below the zero line. The RSI dropped to 25 at 02:15 ET, signaling oversold conditions and suggesting potential short-term rebound possibilities. However, without a strong bullish reversal pattern, the RSI remains in bearish territory and lacks convincing bullish momentum.

Bollinger Bands

Volatility expanded significantly after the breakdown at $1.924, with price swinging from the upper to the lower Bollinger Band in a span of 4 hours. The price closed near the lower band at $1.852, indicating heightened bearish control and potential for further downside. A retest of the midline or a break above the upper band is unlikely without a strong bullish catalyst.

Volume & Turnover

Volume spiked to 185,188.2 EPIC at 00:45 ET, correlating with the breakdown from $1.924 to $1.923 and a subsequent freefall. Turnover increased by over 800% compared to earlier hours, confirming strong bearish conviction. However, volume declined afterward, suggesting a possible exhaustion phase. A divergence between price and volume was observed after 07:30 ET, indicating caution for further downside without confirmation.

Fibonacci Retracements

Key Fibonacci levels were drawn from the high of $2.027 to the low of $1.845. The 61.8% retracement level at $1.89 and the 38.2% level at $1.92 acted as psychological support/resistance. Price bounced briefly at $1.89 but failed to hold, indicating potential for a test of the 23.6% retrace at $1.96 or a retest of the $1.85–1.86 support cluster.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position on a close below the 61.8% Fibonacci retracement level ($1.89) with a stop-loss above the 38.2% level ($1.92). A trailing stop could be placed at the 20-period EMA, or an exit could be triggered on a bearish engulfing pattern and RSI divergence. This approach would align with the observed bearish momentum and key support/resistance levels. Given the high volume and volatility, this setup has a strong case for testing under historical data, particularly in environments with high bearish conviction.