Market Overview for BOOK OF MEME/Tether (BOMEUSDT) on 2026-01-17

Summary
• BOOK OF MEME/Tether (BOMEUSDT) traded in a tight range with 0.000664–0.000686 as key levels.
• A bullish breakout attempt failed, resulting in bearish engulfing and a potential reversal.
• Volume surged during the 23:30–01:00 ET window, highlighting key accumulation/distribution phases.
• RSI signaled overbought conditions mid-day, followed by a corrective pullback into oversold.
• Bollinger Bands contracted before expanding, suggesting increased volatility ahead.

BOOK OF MEME/Tether (BOMEUSDT) opened at 0.000664 at 12:00 ET–1 and traded between 0.00066 and 0.000691, closing at 0.000681 at 12:00 ET. The pair saw total volume of 131669344.0 and notional turnover of 90396.561273 over the 24-hour window.

Structure & Formations

BOMEUSDT formed key support at 0.000664 and resistance at 0.000686 during the 24-hour period. A bearish engulfing pattern emerged at 02:15 ET as price moved from 0.000684 to 0.00068, followed by a doji at 04:30 ET, signaling potential indecision in price direction.

Moving Averages

On the 5-minute chart, the 20-period moving average crossed above the 50-period line at 21:45 ET, suggesting a short-term bullish bias. However, the daily MA(200) remains a critical long-term support at ~0.000667, which held through the correction phase.

Momentum Indicators

MACD showed a bearish crossover after 02:00 ET, aligning with the breakdown from the 0.000686 resistance. RSI peaked at overbought (80) at 23:30 ET and fell into oversold (20) by 05:00 ET, indicating a strong swing correction.

Volatility and Bollinger Bands

Volatility expanded significantly after 23:30 ET, with Bollinger Bands widening as the price tested the upper band. The price remained within the bands for most of the session, though the contraction phase prior suggested a potential breakout attempt, which ultimately failed.

Volume and Turnover

Volume spiked between 23:30 and 01:00 ET, coinciding with key resistance and support levels. Turnover matched the high volume, suggesting genuine participation rather than wash trading. A divergence between rising price and falling volume occurred around 04:30 ET, hinting at a potential reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.00066–0.000691 swing, 61.8% retracement (~0.000677) acted as a key support. The 38.2% level (~0.000683) was a critical resistance, with price rebounding off it during the late morning session.

The price may consolidate around 0.000681 in the short term, with potential for a retest of 0.000677 as the next support. Traders should watch for a breakdown below that level or a rejection above 0.000683 to confirm a trend shift. Volatility and volume remain key indicators to monitor for confirmation or divergence.