Market Overview: BOOK OF MEME/Tether (BOMEUSDT) on 2026-01-15

Summary
• Price declined from $0.000738 to $0.000702, forming a bearish trend with bearish engulfing patterns.
• RSI and MACD indicate weakening momentum with potential oversold conditions.
• Volatility expanded early in the session, but volume has since consolidated near key support.
• Bollinger Bands show a reversion to the mean as price consolidates near the lower band.
• 61.8% Fibonacci support is aligned with $0.000702, suggesting a short-term floor.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.000735, peaked at $0.000738, and closed at $0.000702, with a session low of $0.00068. Total 24-hour volume reached 1.85B units, and notional turnover amounted to $129.47M.

Structure & Moving Averages

Price action formed a descending channel with bearish engulfing and inside bar patterns, particularly in the 17:00 to 19:00 ET window. The 20-period and 50-period moving averages on the 5-minute chart both dipped below price, reinforcing a short-term bearish bias. On the daily chart, the price is below the 50-, 100-, and 200-day moving averages, indicating a broader downtrend.

Momentum Indicators

The RSI dropped below 30 into oversold territory by the end of the session, while the MACD remained negative with a narrowing histogram, suggesting momentum may be exhausting. However, a rebound remains contingent on volume confirmation.

Volatility and Bollinger Bands

Volatility was highest in the early hours, with the price falling to the lower Bollinger Band by 02:00 ET. A reversion to the mean appears underway, with price consolidating near the 20-period moving average on the 5-minute chart.

Volume and Turnover

The largest single-volume candle occurred at 01:45 ET, with 185.4M units traded. Notional turnover spiked correspondingly, confirming the bearish breakdown. Volume has since contracted, suggesting a potential pause in the downward move.

Fibonacci Retracements

The 61.8% Fibonacci retracement level of the most recent 5-minute bearish swing aligns with the session close at $0.000702, which may offer near-term support. A breach below this level could test the 78.6% retracement at $0.000691.

Looking ahead, a rebound above $0.000706 could rekindle short-term bullish momentum, but a breakdown below $0.000691 may signal a deeper correction. Investors should remain cautious of thin liquidity during overnight hours and monitor volume for signs of capitulation or reversal.