Market Overview for BOOK OF MEME/Tether (BOMEUSDT)

• BOOK OF MEME/Tether opened at $0.000839 and closed at $0.000837 with a high of $0.000844 and low of $0.000766.
• Price declined by ~1.94% over 24 hours, with volume of 2.74B and turnover of ~$2.26M.
• A bearish engulfing pattern formed around 20:30 ET, followed by a consolidation phase.
• RSI (14) fell into oversold territory near 30, while MACD showed bearish divergence.
• Volatility expanded through Bollinger Bands, with price near the lower band during the decline.

BOOK OF MEME/Tether (BOMEUSDT) opened at $0.000839 on 2025-11-04 and closed at $0.000837 by 12:00 ET on 2025-11-05. The price reached a high of $0.000844 and a low of $0.000766 during the 24-hour window, reflecting a bearish bias. Total volume was 2.74 billion, and notional turnover was approximately $2.26 million.

On the 15-minute chart, the price formed a bearish engulfing pattern around 20:30 ET, which appeared to signal a potential reversal. This was followed by a consolidation phase, with the price fluctuating within a tight range. The 20-period and 50-period moving averages showed a downward trend, suggesting bearish control. Key support levels emerged near $0.000815–$0.000820, while resistance is likely near $0.000830–$0.000835.

Price Action and Candlestick Patterns

The 15-minute chart revealed several notable candlestick formations, including a bearish engulfing pattern and a doji near $0.000813, indicating indecision and potential exhaustion in the bulls. The price action suggests that sellers have taken control after a sharp drop from $0.000839 to $0.000798. The formation of a key support level near $0.000815–$0.000820 could determine the next directional bias.

Technical Indicators

RSI (14) fell below 30 into oversold territory during the consolidation phase, suggesting the price may find a short-term bottom. However, the MACD line crossed below the signal line and remained in negative territory, indicating bearish momentum. The MACD histogram showed bearish divergence, signaling potential bearish continuation. Bollinger Bands revealed an expansion in volatility during the decline, with the price sitting near the lower band. This suggests a possible rebound could occur from the 2.38% retracement level of the recent swing low.

Fibonacci Retracements

Fibonacci levels applied to the recent 15-minute swing low to high suggest a potential rebound could occur from the 38.2% retracement level at $0.000813. On the daily chart, the 61.8% retracement level is near $0.000830, which could act as a key resistance if the price breaks above the current range.

Volume and Turnover

Volume spiked during the bearish engulfing pattern and again around the 21:45 ET bar, confirming the sell-off. However, turnover did not follow a consistent pattern with price, showing some divergence during the consolidation phase. This could indicate that volume is not fully confirming the bearish bias. Investors should monitor for a potential volume surge on a breakout of the $0.000835 resistance level.

Backtest Hypothesis

Given the presence of the bearish engulfing pattern and bearish divergence in the MACD, a backtest of a bearish strategy based on these indicators could provide insight into BOMEUSDT’s historical behavior. Since BOMEUSDT is a newer listing (March 2024), a valid approach would be to use the exchange-qualified ticker (e.g., BINANCE:BOMEUSDT) and restrict the backtest to its life (March 2024 to November 2025). This would allow a more accurate evaluation of the strategy’s effectiveness on this asset, avoiding data gaps from earlier periods.