Market Overview for Epic Chain/Tether (EPICUSDT)

Summary
• Price opened at $0.627 and closed at $0.625 after consolidating near key support levels.
• A bearish engulfing pattern emerged around 20:30 ET, suggesting short-term bearish momentum.
• Volume spiked to 106,188.9 at 16:15 ET, coinciding with a sharp $0.619–$0.633 range break.
• RSI entered oversold territory briefly, hinting at potential short-covering or reversal.
• Volatility expanded during the $0.617–$0.629 range, with Bollinger Bands widening from ~$0.623 to ~$0.629.

Epic Chain/Tether (EPICUSDT) opened at $0.627 on 2026-01-17 12:00 ET, reached a high of $0.633, and closed at $0.625 as of 2026-01-18 12:00 ET. The 24-hour trading volume was approximately 660,684.0, with a notional turnover of $415,562.12.

Structure & Formations

The pair formed a bearish engulfing pattern around 20:30 ET when a $0.624–$0.626 candle was followed by a larger bearish candle closing at $0.621. A strong support level appears to be forming near $0.617–$0.619, where price has bounced twice in the last 8 hours. A potential resistance level is visible at $0.628–$0.629 based on recent highs and failed breakouts.

Moving Averages

On the 5-minute chart, the 20- and 50-period SMAs have been converging slightly bearishly, with the 50SMA below the 20SMA since late morning. On the daily chart, the 50- and 200-period SMAs remain in a bullish alignment, with the price comfortably above both.

Momentum & Volatility

RSI dropped to ~27 in the early hours of 18 January, signaling short-term oversold conditions, but has since rebounded to ~48, suggesting some consolidation. MACD remains in positive territory but has flattened, indicating waning upward momentum. Bollinger Band volatility has widened significantly after a period of consolidation, reflecting increased uncertainty and trader activity.

Volume & Turnover

Volume spiked to ~106k at 16:15 ET, coinciding with a sharp price move from $0.619 to $0.633. This suggests accumulation or distribution activity. Notional turnover increased in tandem, reinforcing the strength of that move. However, a divergence in volume during the late morning suggests weakening conviction in the bullish phase.

Fibonacci Retracements

On the 5-minute chart, the $0.623–$0.629 swing shows a 61.8% retracement level near $0.625, which has acted as both support and resistance multiple times in the last 6 hours. On the daily chart, the 38.2% retracement of the recent high–low range aligns with current price action, suggesting consolidation before a potential breakout.

Looking ahead, a breakout above $0.629 could indicate renewed bullish intent, while a breakdown below $0.617 would signal a deeper correction. Investors should watch for volume confirmation and divergence in momentum indicators to assess the strength of the next move. As always, be cautious of unexpected macro or exchange-driven volatility.