Market Overview for BOOK OF MEME/Tether (BOMEUSDT)

Summary
• Price formed key resistance at $0.000805 and broke support at $0.000780.
• Strong volume divergence flagged during the rally above $0.000800.
• RSI showed bearish momentum turning neutral as price retested key levels.
• Bollinger Bands narrowed before a breakout, suggesting elevated volatility.
• Fibonacci retracement levels at 0.000793 and 0.000802 confirmed key psychological levels.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.000786 on 2026-01-06 at 12:00 ET and traded to a high of $0.000812 before closing at $0.000785 on 2026-01-07 at 12:00 ET, with a low of $0.000771. Total volume was 1.17 billion, and notional turnover reached $929,439.

Structure and Key Levels

Price tested and failed at the $0.000805 resistance, followed by a breakdown below the $0.000780 level. A bearish engulfing pattern formed during the early morning hours, signaling a potential trend reversal. Key Fibonacci retracement levels were respected, with a 61.8% retracement at $0.000787 becoming a temporary support.

Volatility and Momentum

Bollinger Bands showed a period of contraction during the overnight session, followed by a breakout to the downside. RSI moved from overbought territory to neutral levels, indicating waning bullish momentum. MACD remained below zero, showing bearish divergence with price action during the final hours of the session.

Volume and Turnover Dynamics

Volume spiked during the late evening and early morning sessions, particularly as price fell below $0.000790. Turnover expanded during the bearish phase, confirming the breakdown. Divergence between price and volume was noted near the $0.000800 level, indicating a potential exhaustion of buyers.

BOOK OF MEME/Tether appears to have completed a bearish reversal pattern and could test the next support at $0.000775 over the next 24 hours. Investors should remain cautious for a potential bounce near the 38.2% retracement level at $0.000793 but expect continued short-term bearish pressure until a clear reversal is confirmed.