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Summary
• Price formed key resistance near 0.000719 and support near 0.000710–0.000711 on 5-minute chart.
• Late-session rally pushed price up to 0.000756 before retracing, suggesting mixed sentiment.
• Volume spiked during the rally but declined afterward, indicating weakening momentum.
• RSI showed overbought conditions briefly but failed to confirm a breakout.
• Bollinger Bands widened during the rally, highlighting increased volatility.
BOOK OF MEME/Tether (BOMEUSDT) opened at 0.000711, hit a high of 0.000760, and closed at 0.000727 at 12:00 ET. Total volume reached 518,859,168.0, and turnover totaled 376,409.16.
Structure & Formations
Price action showed a strong bullish engulfing pattern around 22:15 ET, followed by a bearish correction from 00:00 to 06:45 ET. Key support was retested at 0.000710–0.000711 and held into the close, while resistance at 0.000719 appeared to cap early morning gains.
Moving Averages
On the 5-minute chart, price briefly traded above the 20-period SMA but failed to hold above the 50-period SMA. Daily averages show no immediate crossover signals, with price still above the 50- and 100-day SMA lines.
Momentum & Volatility
MACD showed a bullish crossover late in the session, but momentum faded after 03:00 ET. RSI reached overbought levels near 0.000756, but failed to sustain them. Bollinger Bands expanded significantly during the rally, suggesting a period of heightened uncertainty.
Volume & Turnover
Volume spiked to 77,481,587.0 at 22:45 ET and 113,052,550.0 at 00:00 ET, but failed to produce a breakout beyond 0.000756. Turnover increased in tandem, showing coordinated buying, but subsequent volume declined as price retreated.
Fibonacci Retracements
Fib levels suggest that the 61.8% retracement of the 0.000710–0.000760 move sits near 0.000736–0.000737, which appears to coincide with the 5-minute consolidation range in the early hours.
Price appears to be consolidating in the 0.000727–0.000737 range, with potential for a short-term rebound if buyers emerge above 0.000736. Traders should watch for a break below 0.000725 as a sign of deeper correction. As always, volatility remains high, and sharp reversals could occur with minimal warning.
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