BOOK OF MEME/Tether Market Overview

• BOMEUSDT closed near its 24-hour low, forming bearish continuation patterns and declining from a 0.00176 high to 0.001632.
• Volume surged at the high but declined sharply post-peak, while turnover confirmed bearish momentum in the final hours.
• RSI and MACD signaled oversold conditions and weakening bullish momentum, suggesting a potential short-term bounce may be limited.
• Price remains below all key moving averages, with 0.00165–0.00166 as immediate support and 0.00172–0.00174 as resistance.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.001685 on 2025-10-08 12:00 ET and reached a high of $0.00176 before retreating to close at $0.001632 by 12:00 ET on 2025-10-09. Total 15-min OHLCV data shows a 24-hour volume of 826,699,548.0 and a turnover (amount × price) of approximately $1,442,955. The pair exhibited bearish exhaustion and bearish engulfing patterns late in the session.

Structure & Formations

Price action over the 24-hour window displayed a bearish reversal formation after a short-lived bullish thrust above $0.00175. A key bearish engulfing pattern formed on the candle ending at 2025-1009 073000, where the close of $0.001667 was below the prior candle’s open and low. The price then tested the 0.00166–0.00167 support zone multiple times, with a potential double-bottom forming at 0.00163–0.00164. Resistance appears at 0.00168–0.00172, with the 0.00174–0.00176 level showing strong rejection in earlier hours.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA are bearishly aligned, both below the current price. This suggests short-term bearish bias. On the daily chart, the 50DMA, 100DMA, and 200DMA are all below the current price, reinforcing the bearish structure and indicating a prolonged downtrend.

MACD & RSI

The MACD showed a bearish crossover and negative histogram values throughout the final 12 hours, reinforcing the downtrend. RSI dipped into oversold territory at 30, but failed to close above 40, suggesting a weak potential bounce. Momentum appears to be exhausting, with no clear signs of reversal yet.

Bollinger Bands

Volatility expanded during the bullish thrust, reaching a high of $0.00176, but then contracted sharply as the trend reversed. Price closed near the lower Bollinger Band, suggesting short-term oversold conditions. However, the band’s contraction does not yet indicate a potential breakout, and a rebound may remain capped until the middle band is tested.

Volume & Turnover

Volume spiked at $0.00176 with over 100 million traded, confirming the bullish move. However, volume dropped significantly after 05:00 ET as the bearish trend took hold, with the largest bearish move from 0.00172 to 0.00164 on only 40–50 million volume. Turnover (amount × price) declined as well, indicating reduced conviction in the bearish move.

Fibonacci Retracements

Fibonacci levels applied to the 0.00167–0.00176 swing indicate 0.00173 as 38.2%, 0.00171 as 61.8%, and 0.00168 as the 78.6% retrace. The current close at 0.001632 aligns with the 61.8% retrace of the larger daily downtrend, suggesting a potential bounce target at 0.00166–0.00168.

Backtest Hypothesis

Given the current setup, a potential backtesting strategy would be to enter short positions with a stop loss above the 0.00172–0.00174 resistance cluster, targeting the next support at 0.00163–0.00164. Traders may also consider a bullish bounce trade upon a close above the 50SMA and confirmation from RSI above 40. The strategy should include volume-based filters to ensure higher conviction trades—i.e., avoid entries on declining volume. A trailing stop loss could help secure gains as the trend continues to unfold.