BOOK OF MEME Market Overview: BOMEUSDT Surges Amid Strong Buy Momentum

• Price surged 97.5% over 24 hours, closing at $0.002062 from $0.001963
• Momentum accelerated during Asian and European hours, with MACD turning bullish
• Volatility expanded as price traded between $0.001949 and $0.002079
• Volume spiked in midday ET, confirming bullish breakout
• RSI reached overbought territory, suggesting potential pullback risk

BOOK OF MEME/Tether USDt (BOMEUSDT) opened at $0.001963 on 2025-09-09 12:00 ET and surged to a 24-hour high of $0.002079. The pair closed at $0.002062 at 12:00 ET the following day, with a low of $0.001949. Total volume reached 260.66 million USDT, and notional turnover hit $545,790.

Structure & Formations

BOMEUSDT broke decisively above the psychological $0.002 level during the early Asian session, forming a bullish breakout pattern. A strong bullish engulfing candle formed at $0.002001–$0.002006, confirming a shift in momentum. Key support levels identified include $0.001985 and $0.001963, with resistance now at $0.002079 and $0.002101. A potential bearish reversal pattern emerged after 16:45 ET, with a doji and narrowing range suggesting short-term uncertainty.

Moving Averages

On the 15-minute chart, price closed above both the 20- and 50-period SMAs, indicating short-term bullish bias. On a daily timeframe, the 50-day SMA is approaching the 100-day SMA from below, suggesting a potential crossover could be imminent, which may signal a longer-term bullish trend.

MACD & RSI

The MACD crossed above the zero line and showed increasing histogram bars after 20:00 ET, confirming bullish momentum. The RSI reached 72–75 during the peak of the rally, indicating overbought conditions. A pullback toward 61.8% Fibonacci support at $0.002032–$0.002042 could be expected if the RSI fails to re-enter neutral territory.

Bollinger Bands

Volatility expanded significantly during the Asian and European sessions, with price trading at the upper band multiple times. A contraction in Bollinger Band width occurred after 11:00 ET, followed by a sharp breakout to the upper band. Price has remained above the 20-period moving average within the bands, indicating a continuation of bullish momentum.

Volume & Turnover

Volume surged to a peak of 260.66 million USDT around 12:45 ET, coinciding with the price’s breakout above $0.00206. Notional turnover increased in step with volume, confirming the legitimacy of the move. A divergence between price and volume was observed after 15:00 ET, where price continued higher while volume waned, potentially signaling a slowing trend.

Fibonacci Retracements

Applying 15-minute retracement levels to the swing low of $0.001949 and high of $0.002079, the 38.2% level sits at $0.001996 and the 61.8% at $0.002039. On the daily chart, retracements from the previous month’s swing high suggest key resistance at $0.002125. Price may test these levels over the next 24 hours before finding a directional bias.

Backtest Hypothesis

Given the observed breakout structure, bullish momentum confirmed by MACD and volume, and the RSI signaling overbought conditions, a mean-reversion strategy could be considered for the next 24 hours. A sell entry could be triggered on a pullback to the 61.8% Fibonacci level at $0.002039, with a stop-loss below $0.002025 and a target at $0.002062. The backtest would evaluate whether the retracement level attracts buying pressure or leads to a breakdown, using a 20-period EMA and 50-period RSI as entry filters.