BOOK OF MEME/Tether Market Overview (2025-09-26)

• Price declined from $0.001639 to $0.001571, showing bearish momentum.
• Oversold RSI conditions emerged in late evening, hinting at potential short-term bounce.
• Volatility expanded with widening Bollinger Bands, suggesting increased market uncertainty.
• Volume spiked during the sharp decline, but turnover failed to confirm a strong bearish conviction.
• A bullish engulfing pattern emerged near $0.001571, suggesting possible short-term reversal.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.001632 on 2025-09-25 12:00 ET and closed at $0.001607 on 2025-09-26 12:00 ET, reaching a high of $0.001646 and a low of $0.001535. Total volume was 1.0099B, with a notional turnover of $1.598M.

Over the 24-hour period, BOOK OF MEME/Tether experienced a sharp bearish correction, particularly during the early evening ET, when it broke below key support levels. The price dropped from a 24-hour peak of $0.001639 to a trough of $0.001571. A bullish engulfing pattern formed near the close at $0.001571, suggesting a short-term reversal could be in play. The formation appears to be testing the 38.2% Fibonacci retracement of the earlier downswing, which aligns with a potential short-term support level.

The 20-period and 50-period moving averages on the 15-minute chart remained bearish, with the 50-period MA acting as a resistance. MACD turned negative mid-day, reflecting fading bullish momentum, while the RSI entered oversold territory in the late evening, suggesting the potential for a countertrend rally. Bollinger Bands expanded during the drop, signaling increased volatility. The price closed near the upper band in the final hour, indicating a possible rebound off the key support zone.

Volume increased during the bearish phase, especially in the 5:30–6:00 PM ET timeframe, suggesting bearish conviction. However, the notional turnover (volume × price) did not rise proportionally, indicating a potential divergence. Price and turnover moved in tandem during the rally to close, confirming some short-covering activity.

BOOK OF MEME/Tether may attempt to retest the $0.001610–$0.001615 zone for confirmation of a short-term reversal. However, a failure to hold above $0.001580 could see further bearish continuation. Traders should monitor the 61.8% Fibonacci level at $0.001575 for potential re-entry points in either direction.

Backtest Hypothesis
A backtest could be constructed by entering long positions at the close of the bullish engulfing pattern near $0.001571, with a stop-loss placed below the 61.8% Fibonacci level at $0.001575 and a take-profit target at the 38.2% retracement at $0.001604. Alternatively, a short position could be considered if the price fails to break above $0.001610, with a stop above $0.001615. Given the RSI’s oversold condition, a reversal-based strategy might have a higher probability of success in the next 24 hours.