Market Overview for BOOK OF MEME/Tether (BOMEUSDT) – 2025-09-22

• Price dropped from 0.002022 to 0.001716 over 24 hours, with heavy selling pressure after 00:00 ET.
• MACD turned negative and RSI fell to oversold territory, suggesting bearish momentum may ease.
• Volume surged in early session, then declined, with a divergence in notional turnover versus price action.
• Bollinger Bands widened overnight, indicating increased volatility and potential for consolidation.
• Key Fibonacci levels at 0.001853 (61.8%) and 0.001934 (38.2%) show potential for near-term reversal.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.002011 on 2025-09-21 at 12:00 ET and closed at 0.001716 by the same time on 2025-09-22, hitting a high of 0.002022 and a low of 0.001683. Total 24-hour trading volume amounted to 1,848,834,000 and notional turnover reached approximately $3,182,563.

Structure & Formations

Price action showed a distinct bearish trend throughout the session, with a sharp drop from 0.002011 to 0.001716. A key support level appears to have formed around 0.001716–0.001721, where the price found a temporary floor in the afternoon. Notable bearish patterns include long lower shadows between 00:00 and 06:00 ET and a series of dark cloud cover patterns as the price retested 0.001853 and 0.001934 before falling back. Resistance remains strong above 0.001964 and 0.001991, which coincided with previous retracement levels and failed bullish attempts.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA in the early morning, confirming a bearish crossover. By 12:00 ET, the price had fallen below both, reinforcing the downtrend. On the daily chart, the 50-period MA currently sits above the 100 and 200-period MAs, indicating that the pair remains in a medium-term bearish phase. Traders may monitor crossovers of the 200-period MA for possible reversal signals in the coming days.

MACD & RSI

The MACD turned negative overnight and remained below the signal line, suggesting continued bearish momentum. RSI dropped below 30 by the morning and remained in oversold territory until late afternoon, hinting at potential for a short-term bounce or pullback. However, the lack of strong bullish momentum and confirmation from volume suggest that any rebound could be short-lived unless accompanied by a bullish divergence in RSI and a positive MACD crossover.

Bollinger Bands

Bollinger Bands expanded significantly in the early morning, indicating a sharp increase in volatility. By midday, the price had drifted closer to the lower band, suggesting oversold conditions and a potential bounce. The narrowing of bands in the latter half of the session may indicate a period of consolidation, with the potential for a breakout or breakdown in the coming hours.

Volume & Turnover

Volume spiked in the early morning hours with a large block at 0.00182–0.001765, followed by a steady decline as the price continued lower. Notional turnover reached a peak at 06:15 ET before tapering off, indicating that the selling pressure was largely absorbed in that window. A divergence appears between falling prices and decreasing turnover, which may suggest a loss of conviction among sellers, though this needs confirmation from follow-through buying.

Fibonacci Retracements

Key Fibonacci retracement levels for the recent 15-minute swing include 0.001853 (61.8%) and 0.001934 (38.2%), both of which acted as temporary floors before the price fell further. On the daily chart, the 0.001964 level (61.8%) and 0.002004 (38.2%) are likely areas to watch for potential resistance if the price begins to stabilize and retrace. The 0.001716 level (23.6%) may serve as a new immediate support.

Backtest Hypothesis

Given the current structure and indicators, a potential backtesting strategy could involve entering short positions on a break below key support levels such as 0.001716–0.001721, with a stop just above the nearest resistance at 0.001752. A take-profit target could be set at 0.001683, the intra-day low. Alternatively, traders may look for long entries on a confirmed bounce off the 0.001716 level, with stops placed below this support and targets aligned with RSI divergence and MACD crossover signals. The strategy would require close monitoring of volume and Bollinger Band contraction as indicators of potential reversal.