BOOK OF MEME/Tether Market Overview for 2025-10-06

• Price declined from 0.001750 to 0.001690, forming bearish reversal patterns in the early session.
• Volatility expanded during the Asian session with a high-low range of 0.001690–0.001756.
• Momentum shifted from bearish to neutral in late afternoon, with RSI approaching oversold levels.
• Volume spiked during the Asian and European sessions but failed to confirm new lows.
• Fibonacci 61.8% retracement aligned with 0.001713–0.001718, acting as temporary support.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.001738 on 2025-10-05 at 12:00 ET, reached a high of 0.001750, and closed at 0.001725 as of 12:00 ET on 2025-10-06. Total 24-hour volume was 800,573,746.0 and total turnover reached $1,386,806. The price action displayed a bearish bias during the early Asian session, forming a bearish engulfing pattern, but later found relative support in the afternoon and evening hours.

Structure & Formations

Key support levels formed around 0.001713–0.001718, where price found temporary respite in the late afternoon, aligning with the Fibonacci 61.8% retracement of the prior bearish leg. The 0.001728–0.001732 zone acted as a minor resistance during the late evening and early morning. A notable bearish engulfing pattern appeared on the 15-minute chart at 18:00–18:15 ET (UTC+8), followed by a doji at 18:30, suggesting indecision and weakening bearish momentum.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart converged closely, suggesting potential consolidation or a possible breakout. The 50-period line crossed below the 20-period line, signaling a bearish bias. On the daily chart, the 50- and 100-period moving averages remained well-separated, with the price currently below both, indicating a medium-term bearish trend. The 200-period MA provided a critical reference point in the 0.001722–0.001730 range.

MACD & RSI

The MACD crossed below the zero line during the early Asian session, confirming bearish momentum, with the histogram showing contraction in the late afternoon. RSI dipped below 30 at 0.001690 in the early evening and has since recovered to mid-40s, indicating oversold conditions and potential for a short-term bounce. Divergence between price and RSI in the 0.001700–0.001715 range suggests a possible near-term reversal.

Bollinger Bands

Bollinger Bands expanded during the Asian session, reflecting increased volatility, while narrowing slightly in the late evening as price approached the mid-band. At close, the price was positioned just below the mid-band, indicating a potential pullback toward the upper band, which sits near 0.001736–0.001738. This suggests that a test of the upper band could occur if short-term buying interest picks up.

Volume & Turnover

Volume surged during the Asian session, peaking at 48 million units in the 00:15–00:30 window, but failed to confirm new price lows, indicating weak bearish conviction. Turnover spiked in line with volume, but diverged from price during the late evening, as volume waned while price found support. This divergence suggests the bearish trend may be losing steam and could be followed by a short-term rebound.

Fibonacci Retracements

On the 15-minute chart, the 38.2% retracement level at 0.001722–0.001724 acted as a minor support zone during the late evening and early morning hours. The 61.8% level at 0.001713–0.001718 was tested twice and held, suggesting potential for further consolidation in that range. On the daily chart, the 61.8% level from a larger bearish swing is positioned at 0.001690–0.001695, which appears to be a critical short-term floor.

Backtest Hypothesis

A potential backtesting strategy could focus on the bearish engulfing pattern and subsequent doji forming during the 18:00–18:45 ET window. A short entry at the close of the 18:15–18:30 candle with a stop just above the high of the engulfing candle (0.001750) and a target at the 61.8% retracement level (0.001713) would align with the identified structure and momentum shifts. Historical volatility and RSI divergence suggest that the strategy may yield favorable risk-reward ratios in similar setups. If confirmed with additional price action and volume data, this approach could serve as a high-probability short-term bearish trade for the next 24 hours.