Market Overview for Epic Chain/Tether (EPICUSDT) on 2025-11-08

Summary
• EPICUSDT saw a sharp intraday high near 0.837 before retracing toward 0.714, forming a bearish consolidation pattern.
• Volatility surged during the midday spike but has since contracted, signaling potential range-bound activity.
• RSI and MACD suggest waning bullish momentum, with price failing to break above key prior highs.
• Bollinger Bands show narrowing volatility ahead of a potential breakout or breakdown.
• Volume spiked during the 11:00–12:00 ET window, suggesting increased activity ahead of the 24-hour close.

Epic Chain/Tether (EPICUSDT) opened at $0.749 on 2025-11-07 at 12:00 ET and reached a high of $0.846 by 11:15 AM ET on 2025-11-08. It closed at $0.730 on 2025-11-08 at 12:00 ET. Total volume was 6,645,443.6, while notional turnover reached $4,748,923.00. The pair exhibited a sharp bearish reversal after a midday bullish breakout.

Structure & Formations

EPICUSDT formed a key bearish structure after reaching 0.846, with price dropping sharply into a 15-minute candle that closed at 0.810. A notable bearish engulfing pattern emerged at 0.833, confirming short-term bearish momentum. A strong support zone developed around 0.735–0.740, where price found repeated buying interest after a steep decline. The most recent 15-minute candle closed at 0.730, forming a small bullish hammer pattern that may hint at short-term stabilization.

Moving Averages

On the 15-minute chart, price currently sits below its 20-period SMA (around 0.745) and the 50-period SMA (around 0.753), indicating a bearish bias. On the daily chart, the 50-period SMA is at 0.762, the 100-period SMA at 0.775, and the 200-period SMA at 0.778, suggesting bearish divergence as the price moves further below long-term support.

MACD & RSI

MACD has turned negative, with a bearish crossover evident in the late afternoon trading session. RSI dropped from overbought territory (above 70) to neutral levels (around 50) by the end of the day, signaling exhaustion in the bullish move. A bearish divergence between the RSI and price action suggests further downside potential in the near term.

Bollinger Bands

Bollinger Bands showed a significant expansion during the early morning hours as price surged toward 0.837, followed by a sharp contraction after the midday peak. By the 16:00 ET window, price was trading near the lower band of the 20-period Bollinger, indicating increased bearish pressure. The narrowing band suggests consolidation and a potential breakout scenario.

Volume & Turnover

Volume surged sharply around 11:00–11:45 ET, with the highest turnover occurring at the peak of the day’s high (0.846). This was followed by a drop in volume during the retracement phase. The divergence between the volume spike and the bearish price action suggests distribution at the top. Turnover and volume both dropped to neutral levels after the 15:00 ET mark, indicating reduced interest in the pair.

Fibonacci Retracements

Key Fibonacci levels on the intraday move from 0.730 to 0.846 include 0.795 (61.8%) and 0.778 (38.2%). Price briefly tested the 61.8% retracement before declining further. The 38.2% level now appears as potential resistance. On the daily chart, the 61.8% retracement of the recent decline (from 0.846 to 0.730) lies at 0.789, which may act as a key pivot for the next 24-hour period.

Backtest Hypothesis

The proposed backtest strategy hinges on a bearish RSI(14) signal and a price break below the 20-period SMA as the exit rule. The sharp overbought RSI spike near 0.846 could have triggered a sell signal, with subsequent price action aligning with the SMA-based exit condition. If applied to this data, the strategy would have exited around the 0.810–0.820 range in the late morning, capturing the bulk of the decline. A similar approach could be tested on prior bullish breakouts to assess consistency and robustness across varying market conditions. Given the current bearish momentum and the confirmation via RSI and SMA, the strategy aligns well with the observed intraday reversal.