BOOK OF MEME/Tether Market Overview (2025-10-11)

• BOOK OF MEME/Tether (BOMEUSDT) traded lower by ~27% in 24 hours, with sharp sell-offs post-ET afternoon.
• Key support tested at 0.00098–0.001005 and 0.00105–0.001075 resistance levels with divergences in volume.
• Volatility spiked as the pair fell from ~0.0015 to ~0.001060, with intraday ranges widening after 21:30 ET.
• RSI entered oversold territory, while MACD turned negative, suggesting short-term bearish momentum.
• Bollinger Bands expanded after the sharp selloff, with price now near the lower band at 0.001060–0.001070.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.001527 at 12:00 ET − 1 and hit a high of 0.001544 before closing at 0.001060 at 12:00 ET. The 24-hour low was 0.000373. Total trading volume reached ~4.56 billion, while notional turnover stood at approximately $4.88 million. The asset experienced a steep decline in the early evening, driven by a high-volume bearish breakout.

Structure & Formations

Price action revealed a bearish breakdown below key support at ~0.00105 and ~0.001005. A long bearish candle formed between 19:30–21:00 ET, confirming a reversal from ~0.0015 to ~0.001060. A potential double-bottom pattern may form around 0.001060–0.001070, but bearish momentum remains strong with no clear signs of reversal yet.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are both bearish, with price far below both. On the daily chart, 50/100/200 SMAs are likely aligned to the downside, suggesting continuation of the bear trend. A bullish crossover remains unlikely in the near term without a strong rebound.

MACD & RSI

MACD turned negative after 19:30 ET, indicating bearish momentum. RSI hit oversold levels (~25) after the selloff, but divergence in volume suggests weak accumulation. A reversal may be possible, but without a strong volume spike or positive MACD crossover, downside risk remains.

Bollinger Bands

Volatility expanded significantly after 21:30 ET, with price hitting the lower Bollinger Band at ~0.001060. The bands widened to ~0.0013, suggesting potential consolidation or a reversal setup. A move above the middle band (~0.00107) may indicate strength.

Volume & Turnover

Trading volume spiked at ~2.7 billion between 21:30–22:00 ET, aligning with the sharp selloff to ~0.000579. Notional turnover reached ~$1.88 million in that period. Divergence between price and volume suggests weak conviction in the move lower, with potential accumulation at the bottom.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 0.0015 to 0.000373, the 61.8% retracement level is ~0.001062, where price has found support. Daily retracements from recent highs (~0.0015) align with the same level, suggesting a potential floor ahead of a rebound.

Backtest Hypothesis

The backtesting strategy described focuses on capturing retracement setups using a combination of Bollinger Bands and RSI divergence. Given the recent selloff and oversold RSI, a long entry at 0.001060–0.001070 could be considered if price holds above the 61.8% Fibonacci level and RSI shows bullish divergence. Stop-loss placement below the 0.001035 level would limit downside risk. This aligns with the observed structure and supports a potential short-term rebound trade.