Market Overview for BOOK OF MEME/Tether (BOMEUSDT)

• Price action showed a choppy 24-hour range between $0.000959 and $0.000999, closing near $0.001001.
• Notable consolidation occurred near $0.000985, acting as a temporary support/resistance pivot point.
• Volume spiked during late ET hours as price advanced toward the upper end of the range.
• Bollinger Bands expanded post-noon ET, suggesting increased short-term volatility.
• No clear overbought or oversold conditions observed in the 15-min RSI, though momentum has been bullish in the final hours.

BOOK OF MEME/Tether (BOMEUSDT) traded between $0.000959 and $0.000999 over the past 24 hours, opening at $0.000982 and closing at $0.001001 as of 12:00 ET. The total volume traded during this period was 1.21 billion units, with a notional turnover of ~$975,000, indicating growing participation. Price action remained range-bound until late in the session, where a break above key resistance levels was observed.

Structure on the 15-minute chart revealed a series of alternating bullish and bearish candlestick patterns, with a doji forming near $0.000991 at 04:45 ET signaling indecision. This was followed by a bullish engulfing pattern at 07:30 ET, which helped drive price to a 24-hour high. The 50-period moving average on the 15-min chart acted as dynamic support during the consolidation phase and was crossed above near the session close. On the daily chart, price remains above the 200-period moving average, suggesting a longer-term bullish bias.

The MACD line crossed above the signal line around 04:00 ET and maintained a positive divergence with price until the session close, reinforcing the bullish momentum. RSI remained within neutral territory throughout the session, though it approached overbought territory in the final hours. Bollinger Bands expanded post-noon ET, with price hovering near the upper band in the last 6 hours, indicating a period of increased volatility and potential continuation of the upward thrust.

Volume and turnover spiked sharply in the final 6 hours of the session, with the largest spike occurring at 07:30–08:45 ET. This coincided with the breakout from the mid-session range and suggests strong conviction in the bullish move. The price-to-turnover correlation is aligned, indicating no divergence and confirming the strength of the recent rally. Fibonacci retracements drawn from the 15-minute swing high ($0.000999) to the intraday low ($0.000959) indicate a possible consolidation target at $0.000978 (61.8%) and $0.000985 (50%) in the near term.

Backtest Hypothesis
Given the recent momentum and the absence of RSI data for BOMEUSDT due to a data error, a 14-period RSI-based trading strategy could be backtested using the provided 15-minute price data. A typical approach would involve entering long positions when RSI falls below 30 (oversold) and exiting when it rises above 50, or alternatively, shorting when RSI exceeds 70 (overbought). This strategy could be further refined by incorporating moving average crossovers or Fibonacci levels as confirmation signals. If historical price data is available in CSV or JSON format, a tailored RSI-based backtest from 2022-01-01 to the present can be implemented to evaluate its efficacy for BOMEUSDT. The absence of RSI data in the current dataset limits further technical inference in this area.