Epic Chain Market Overview for 2025-07-16

Epic Chain (EPICUSDT) closed at 0.963 at 12:00 ET today, down from an open of 0.993, with a day’s high of 0.994 and low of 0.925. Total volume reached 459,123.4 units, and turnover totaled 2,850 USD over the 24-hour period.

Summary

• Price plummeted to 0.925, testing critical support with 140,443.6 units of volume on July 15.
• A large bearish candle on high volume marked a sharp sell-off, signaling strong downside momentum.
• RSI dipped into oversold territory (below 30), hinting at a potential short-term rebound.

Technical Analysis

Structure & Formations

The price collapsed to 0.925, a key support level, after a 7% drop from its opening. This level may act as a floor if buyers step in. Resistance could form near 0.952 (38.2% retracement of the July 15 drop) and 0.966 (a prior swing high). A bearish engulfing pattern emerged during the sell-off, reinforcing the downtrend.

Moving Averages

The 20-period MA on the 15-minute chart dipped below the price, confirming bearish momentum. The 50-period MA is further below, suggesting a deeper correction. On a daily chart, the 50-day MA remains above current prices, offering long-term support near 0.97–0.98.

MACD & RSI

MACD is in negative territory, with the line below its signal, signaling bearish pressure. RSI briefly hit oversold levels (28–30), raising the likelihood of a technical bounce toward 0.95–0.96.

Bollinger Bands

Price hugged the lower band during the sell-off, indicating reduced volatility. A move above the midline (~0.97) would signal stabilization, while a breach below 0.925 could trigger further declines.

Volume & Turnover

The largest volume spike (140,443.6 units) coincided with the low at 0.925, confirming heavy selling pressure. Turnover remained muted elsewhere, suggesting limited urgency from buyers.

Fibonacci Retracements

The July 15 sell-off from 0.994 to 0.925 saw price test the 0.952 resistance (38.2% retracement) multiple times. A rebound to 0.966 (61.8% retracement) would signal a stronger recovery.

Forward Outlook

Prices may consolidate near 0.95–0.96 before testing 0.925 support again. Traders should monitor volume for confirmation of reversals. A break above 0.966 could signal a resumption of the uptrend. Risk caveat: Volatility remains elevated; stop-losses should account for 5–7% swings.