BOOK OF MEME/Tether (BOMEUSDT) Market Overview

Summary
• Price declined from $0.000838 to $0.000805, with a 24-hour turnover of $431.3M and volume of 215.9M BOME.
• Momentum turned negative, with RSI dropping into oversold territory near 30 by 12:00 ET.
• Volatility expanded after 19:00 ET but later consolidated near lower Bollinger Bands.
• A bearish engulfing pattern formed at 19:30 ET before a prolonged descent.
• Volume increased during the selloff, aligning with price action and confirming bearish pressure.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.000830 on 2025-11-05 at 12:00 ET, hit a high of $0.000846, and closed at $0.000805 by 12:00 ET on 2025-11-06. Total volume for the 24-hour window was 215.9M BOME, with a notional turnover of $431.3M. Price action showed a distinct bearish trend, with momentum indicators reflecting oversold conditions and volatility increasing late in the session before a consolidation phase.

Over the 24-hour period, BOMEUSDT formed a key bearish engulfing pattern at 19:30 ET, signaling potential downward pressure. Support appears to have held at $0.000805–$0.000808, with a short-term resistance zone forming around $0.000830–$0.000835. On the 15-minute chart, the 20-period and 50-period moving averages remained below the price, confirming the bearish bias. The 50-period line acted as a resistance in the afternoon, capping further upward movement.

Momentum accelerated lower in the evening, with the RSI dropping to a 12:00 ET close of ~30, indicating potential oversold conditions. MACD turned negative mid-afternoon, with a bearish crossover confirming the shift in trend. Volatility, as measured by Bollinger Bands, widened after 19:00 ET, reflecting heightened uncertainty before consolidating near the lower band. This suggests that sellers were in control, with a high probability of continuation unless a strong buy wall emerges near the $0.000805–$0.000810 range.

The 61.8% Fibonacci retracement level lies at $0.000815, and the 38.2% level at $0.000822, which may act as potential retest areas if a rebound occurs. The volume profile aligns with price action, particularly after 21:00 ET, when the asset traded down to $0.000805 with strong volume. This suggests conviction in the bearish move. Investors should watch for a break below $0.000805, which may trigger a retest of the $0.000800 level. However, buyers have shown resilience in the $0.000805–$0.000810 range, which may provide a short-term floor.

Backtest Hypothesis
The RSI-oversold strategy described focuses on buying BOME/USDT when the RSI drops below 30 and exits on a close above the 50-period moving average. Given the recent 24-hour action, the RSI reached oversold territory near $0.000805–$0.000808 at 12:00 ET, which could have triggered a long entry. However, a backtest would need to be run on a complete historical dataset to confirm effectiveness. As noted, historical data for BOMEUSDT is not available in its full form, but if the strategy is applied from its listing date (March 2024), it could potentially offer insights into whether oversold RSI levels are reliably followed by rebounds. A future backtest using a properly formatted price series could help validate or reject this hypothesis and assess risk-reward ratios.