BOOK OF MEME/Tether Market Overview for 2026-01-18

Summary
• Price declined from 0.000671 to 0.000658, forming a bearish flag pattern with key support near 0.000657.
• Momentum weakened as RSI dropped below 30, signaling potential oversold conditions.
• Volume spiked at 0.000671 before consolidating, showing distribution pressure.
• Bollinger Bands expanded in the final 5 hours, indicating increased volatility.
• 50-period MA on 5-min chart acted as a short-term resistance, limiting upward follow-through.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.000671 on 2026-01-17 at 12:00 ET, hit a high of 0.000675, fell to a low of 0.000653, and closed at 0.000658 at 12:00 ET on 2026-01-18. Total volume was 396,914,088.0, with notional turnover of 258,328.55 USD over 24 hours.

Structure & Formations

Price action over the 24-hour period formed a descending triangle consolidation pattern following a sharp sell-off from 0.000675 to 0.000653. A bearish flag emerged during the final 3 hours of the period, anchored by a strong support level at 0.000657, which saw repeated bounces and a rejection candlestick. A morning session engulfing pattern and late-night doji signaled indecision among traders, especially after the price reached 0.000659.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed below the price action in the afternoon of 2026-01-17, reinforcing bearish momentum. The 50-period MA acted as a resistance line during the overnight session, preventing a rebound above 0.000663. Daily moving averages (50/100/200) are expected to show a similar bearish alignment in the next 24 hours.

Momentum and Volatility

Relative Strength Index (RSI) dropped below 30 near the 0.000658 level, suggesting oversold conditions, though a reversal is not yet confirmed. MACD turned negative and crossed below the signal line, indicating bearish momentum. Bollinger Bands expanded during the final 5 hours of the 24-hour period, showing increasing volatility as sellers reemerged near key psychological levels.

Volume and Turnover

Volume surged at 0.000671, with a 30-minute candle showing nearly 39M volume, followed by a sharp decline as price drifted lower. This divergence between volume and price suggests distribution. Turnover mirrored volume closely, with a peak of $26,167.23 at 0.000658, aligning with the final rejection at the 0.00066–0.000661 consolidation range.

Fibonacci Retracements

Fibonacci retracements drawn from the swing high at 0.000675 to the low at 0.000653 showed a 61.8% level at 0.000663, which coincided with the 50-period MA. Price stalled at this level before declining further, reinforcing its role as a short-term barrier. The 38.2% retracement at 0.000666 failed to hold in the morning session, suggesting bearish bias continues.

The price may find near-term direction based on a breakout from the 0.000657–0.000660 range, with a test of 0.000663 expected if buyers reenter. Traders should watch for a rejection at 0.000657 as a potential sign of further bearish continuation. As always, volatility remains a risk, especially given the recent expansion in Bollinger Bands.