EPIC 54% Drop Meets A 31% Rebound On 90x Candle Volume

EPIC lost more than half its value in about two days. Then it came roaring back with a 31% single candle. The EPIC 54% drop started at $0.4593 on October 14 and bottomed at $0.2113 on October 16. At 16:00 UTC on October 17 the token was changing hands near $0.30 on Binance, still a third below where the slide began.

How the EPIC 54% drop unfolded

It was a sleepy market until the 04:00 UTC candle on October 14. The candle before it traded only about 85,000 tokens. That one hit 5.5 million, printed the $0.4593 high and dropped as far as $0.3698.

Sellers did not stop there. By the 16:00 candle price had touched $0.2598, and a bounce at 20:00 faded well short of the old $0.46 area. A second leg on October 15 reached $0.2262. The bottom came at 08:00 UTC on October 16.

Four-hour EPIC/USDT candles from Binance with swing points, an order block and fair value gaps. Chart by Mwenda.

What the EPIC sweeps looked like

The $0.2262 low became the level to watch. The 08:00 candle on October 16 closed under it, at $0.2225, which looked bad. Two candles later, though, price poked under again to $0.2203 and then $0.2178, and both times it closed back above $0.2262.

Traders call that a sell-side sweep. It means a low got taken out and buyers pushed price straight back. It is not proof of a bottom, only a sign that someone was buying at the lowest prints.

A candle 90 times the usual size

Then came the 04:00 UTC candle on October 17. It opened at $0.2277, spiked to $0.3308 and closed at $0.2985, a gain of 31% for the candle. About 15.4 million tokens changed hands in it. The median four-hour candle over the last 120 holds roughly 172,000, so this one was close to 90 times normal.

The next two candles held the gains, closing at $0.3068 and $0.3036. Both sit inside a bearish order block that stretches from $0.2637 up to $0.3376.

EPIC/USDT four-hour chart on TradingView, captured at 16:01 UTC on October 17. Chart by Mwenda.

EPIC on the daily and weekly charts

Zoom out and the EPIC 54% drop looks worse. The daily trend flipped down on October 8, and price sits far below its 20-day average near $0.42 and its 200-day near $0.48. The weekly trend still counts as up, but EPIC now trades under its August 17 swing low of $0.32. TradingView lists the token down about 34% on the week.

Two scenarios for EPIC

After a move that size there are two paths. The hopeful one needs a four-hour close above $0.3376, the top of that order block. Next in line would be a bearish gap from $0.3633 to $0.3698.

The cautious one starts with a four-hour close under $0.2454. That fills a bullish gap and puts the two October 16 lows back in play. It loses weight if price closes above $0.3376 first.

We have no lean either way. Every level here comes from closed candles, and none of it is advice to buy or sell EPIC.