Market Overview for BOOK OF MEME/Tether (BOMEUSDT) on 2025-10-31

• BOOK OF MEME/Tether (BOMEUSDT) traded in a tight range amid fading volatility, with price consolidating near 0.000940.
• A bearish shift occurred mid-day as volume spiked and the price pulled back from 0.000949 to 0.000924, forming multiple bearish candlestick formations.
• Rebound attempts in the late hours failed to break above 0.000945, suggesting resistance may be holding near this level.
• Turnover surged during the afternoon dip, yet price failed to confirm momentum with a sustained move higher.
• MACD and RSI suggest a possible oversold condition, hinting at a potential reversal near-term.

24-Hour Price Action

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.000943 on 2025-10-30 at 12:00 ET and traded between $0.000911 and $0.000951 over the following 24 hours, closing at $0.000950 on 2025-10-31 at 12:00 ET. Total volume reached 556,110,240 units with a notional turnover of $527,881 (based on BOMEUSDT prices). The price consolidated into a narrow range during the final hours, suggesting a possible pause in trend development.

Structure & Formations

Price action during the 24-hour period displayed a bearish shift mid-day, with a bearish engulfing pattern forming around 17:30–18:00 ET. This was followed by a pullback to 0.000924 before buyers stepped in. The price subsequently tested key levels, with resistance appearing near 0.000935–0.000945 and support holding at 0.000925–0.000930. A doji formed at 18:45 ET, signaling indecision and a potential reversal.

Volatility and Bollinger Bands

Bollinger Bands reflected a contraction in volatility during the early morning hours, followed by an expansion as price dipped below the lower band at 17:15 ET. Price remained within the 2σ range for most of the day, closing near the mid-band at 0.000940–0.000945, suggesting a potential consolidation phase ahead.

Moving Averages and Momentum

On the 15-minute chart, the 20 and 50-period moving averages crossed during the afternoon, indicating a bearish crossover. The 50-period MA provided short-term resistance while the 20-period MA pulled back below. On the daily timeframe, no clear crossover was observed, though the 50-period MA hovered near 0.000935–0.000940. RSI hit an oversold level near 30 late in the session, suggesting a potential reversal. MACD remained bearish with a negative histogram but began to flatten, hinting at waning downward pressure.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from 0.000949 to 0.000924 showed key retracement levels at 38.2% (0.000937) and 61.8% (0.000933), both of which served as minor support and resistance during the rebound. The price failed to break above 0.000945 (78.6% retracement), reinforcing its role as a psychological barrier.

Backtest Hypothesis

Given the strong bearish engulfing pattern observed mid-day and the RSI reading in oversold territory, a potential backtest could involve identifying similar instances where the pattern occurs within a defined volatility range. By analyzing historical data for BOMEUSDT to confirm the presence of the bearish engulfing pattern and its subsequent price response, we can estimate the win rate and risk-reward ratio for such setups. This would allow investors to refine entry and exit strategies, balancing timing and position sizing to optimize returns.