Market Overview for BOOK OF MEME/Tether (BOMEUSDT) – 2025-09-23

• BOOK OF MEME/Tether (BOMEUSDT) ended the 24-hour period slightly higher, trading within a narrow 0.001680–0.001750 range.
• Price consolidated after a sharp midday rally, with bearish pressure reemerging after 04:00 ET.
• RSI and MACD showed muted momentum, suggesting indecision among traders.
• Volatility expanded briefly around key 0.001730–0.001740 levels, but failed to confirm a breakout.
• Volume spiked during the afternoon and evening, though turnover failed to align with price movement.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.001722 on 2025-09-22 at 12:00 ET, reached a high of 0.001752, a low of 0.001681, and closed at 0.001731 by 12:00 ET on 2025-09-23. Total volume over 24 hours was 764,359,208.0, with a notional turnover (amount) of 1,460. The price action suggests a mixed sentiment, with indecision between bulls and bears.

The candlestick chart displayed a series of narrow-range bars and a few bearish and bullish engulfing patterns during the afternoon and evening hours. Key resistance levels emerged around 0.001740–0.001745, which failed to hold, while strong support was noted near 0.001720–0.001725. The price action appears to be in a consolidation phase after the earlier rally, with no clear breakout above or below these levels.

Looking at the 15-minute chart, the 20-period and 50-period moving averages crossed multiple times, suggesting choppy conditions. The 50-period MA (around 0.001725–0.001730) provided dynamic support and resistance. On the daily chart, the 50- and 200-period MAs remained relatively flat, indicating no strong directional bias.

MACD & RSI

The MACD histogram showed a shrinking momentum profile in the final hours of the 24-hour period, suggesting waning bullish and bearish forces. The RSI hovered between 45 and 60 for most of the session, indicating a balanced market with no overbought or oversold signals. A brief overbought condition was observed near 0.001745–0.001748, but failed to confirm a sustained move higher.

Bollinger Bands

Bollinger Bands displayed a moderate expansion in the early morning hours, with the price trading near the upper band at times but failing to break out. Volatility appeared to contract after 09:00 ET, with price action consolidating within the bands. The closing price on 2025-09-23 found itself within the band range, indicating no significant deviation from the trend.

Volume & Turnover

Volume remained elevated in the afternoon and early evening hours, with two notable spikes at 0.001720 and 0.001730. Turnover (amount) failed to reflect the same intensity, indicating that volume may have been driven by smaller trades. Divergence between volume and price movement was observed in the 02:00–04:00 ET window, where price rose but volume was muted.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing low of 0.001681 and swing high of 0.001752 showed key levels at 0.001733 (38.2%), 0.001727 (50%), and 0.001720 (61.8%). Price bounced from the 61.8% level twice, suggesting it could serve as a critical support in the near term.

Backtest Hypothesis

The backtest strategy leverages a combination of RSI, MACD crossover, and Fibonacci levels to identify potential reversal points. A long entry could be triggered when RSI dips below 40, MACD crosses above the signal line, and the price approaches a key Fibonacci support. This approach aims to capture rebounds from consolidation phases. Given the current market structure, the 0.001720–0.001725 area could be the primary test point for a potential long bias.