Market Overview for BOOK OF MEME/Tether (BOMEUSDT) – 2025-09-16

• BOMEUSDT rose 0.21% over 24h with a late-day rally pushing price above 0.00199.
• Volume surged to $140 million by 16:00 ET, confirming bullish momentum.
• RSI crossed into overbought territory by 06:15 ET, suggesting possible near-term pullback.
• Bollinger Bands expanded as price broke above the upper band, signaling heightened volatility.
• A bullish engulfing pattern formed at 04:30 ET, supporting further upward movement.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.001963 on 2025-09-15, reached a high of 0.002047, a low of 0.001943, and closed at 0.002046 on 2025-09-16 at 12:00 ET. Total volume was 106,905,922.00 units, with $140.4 million in notional turnover for the 24-hour window.

Structure & Formations

The 24-hour chart shows a distinct bullish trend, beginning with a rejection at 0.001943 before forming a bullish engulfing pattern at 04:30 ET (0.001988–0.001992). A strong rally followed through the afternoon, with price peaking at 0.002047. Key support levels include 0.001980–0.001985 and 0.001960–0.001965. A high volume rejection at 0.001992 suggests resistance is forming in this range.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA20) was at 0.001978, while the 50-period (SMA50) was at 0.001985, both trending upwards. On the daily chart, the 50-day SMA sat at 0.001965, and the 200-day SMA was at 0.001940, indicating a medium-term bullish bias. Price is currently above both major moving averages, reinforcing the bullish trend.

MACD & RSI

The MACD crossed above zero at 05:30 ET, with a positive histogram and rising signal line, indicating bullish momentum. The RSI reached 68 at 06:15 ET, entering overbought territory and suggesting a potential pullback. However, the RSI remains within range without showing signs of divergence, which implies the uptrend could continue for another session.

Bollinger Bands

Bollinger Bands expanded as price surged above the upper band during the final hours of the day, suggesting heightened volatility and strong buying pressure. The band width widened from approximately 0.000015 to 0.000025, aligning with the rally from 0.002006 to 0.002047. A retest of the lower band is likely in the next 24 hours.

Volume & Turnover

Volume spiked above $140 million at 16:00 ET, coinciding with a breakout above 0.002020. Notional turnover also rose in tandem with price action, confirming the rally rather than signaling a divergence. The 09:30–10:00 ET period showed a pullback with volume dropping to $100 million, but price quickly regained momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.001943 to 0.002047, the 38.2% level is at 0.002013 and the 61.8% level is at 0.001999. Price held above the 61.8% level for much of the day and may test the 38.2% level as a potential consolidation zone ahead of the next move.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions on a bullish engulfing pattern confirmation (open < close > previous close) with RSI < 50 and volume above average. Exit on a 5% trailing stop or RSI > 70. Based on today’s pattern at 04:30 ET and RSI recovery below 60, this strategy would have captured the 3.1% rally to 0.002047. A daily backtest using this logic could be optimized by filtering for volume spikes and volatility expansion to avoid false signals in low-liquidity environments.