Market Overview for Harvest Finance/Tether (FARMUSDT): 24-Hour Bearish Correction

• Price fell 28.90 to 27.77 amid a bearish trend with heavy selling pressure post 15:15 ET.
• RSI hit oversold levels (<30) and MACD turned negative, signaling bearish momentum. • Volatility expanded as Bollinger Bands widened; price closed near the lower band. • Volume surged to 1082.02 at 15:15 ET, aligning with the sharp price drop. • A potential support zone forms near 27.65, with Fibonacci levels suggesting 27.59 and 27.93 as key levels.

24-Hour Summary

Harvest Finance/Tether (FARMUSDT) opened at 28.90 on 2025-09-18 at 12:00 ET and closed at 27.77 the following day at the same time. The pair reached a high of 29.33 and a low of 27.59 over the 24-hour period. Total volume traded was 6,426.25 FARM, while notional turnover was approximately $187,137 (assuming $28.50 average price for turnover estimation). This reflects a sharp bearish move, with the most significant decline occurring after 15:15 ET on 2025-09-19.

Structure & Formations

The candlestick pattern suggests a strong bearish bias. A long-tailed candle with a significant close near the session low at 27.77 indicates a potential breakdown. A bearish engulfing pattern formed around the 15:15 ET candle, as the price opened near 27.93 and closed at 27.77, confirming a shift in sentiment. Additionally, a hanging man pattern was observed around the 03:45–04:00 ET candles, suggesting a possible top formation before the final leg down.

Key support and resistance levels from the last 24 hours include:

• Support 1: ~27.59 (prior low and Fibonacci 61.8% level)
• Support 2: ~27.93 (previous consolidation zone)
• Resistance 1: ~28.31 (Bollinger Band mean and prior close)
• Resistance 2: ~28.60 (swing high from earlier in the session)

Technical Indicators and Momentum

MACD turned negative and crossed below the signal line, confirming bearish momentum. RSI dropped below 30 into oversold territory, suggesting a possible short-term bounce if the sell-off pauses. However, the RSI remains flat in oversold, which may indicate weak recovery potential.

Bollinger Bands expanded as volatility increased, with the price closing near the lower band at 27.77. This position near the band edge may suggest a continuation of the bearish move, unless a strong reversal candle appears.

The 20-period moving average on the 15-minute chart was below the 50-period line (bearish crossover), and the 50-period line was below the 200-period daily MA, confirming a downtrend. On the daily chart, price is well below its 50 and 200-day moving averages, reinforcing the bearish bias.

Volume and Turnover Analysis

Volume increased significantly during the final leg of the sell-off, peaking at 1082.02 FARM at 15:15 ET. This volume was accompanied by a sharp drop in price, indicating that the move was confirmed by strong conviction selling. Notional turnover also rose sharply during this hour, aligning with the price action. There was a noticeable divergence between price and turnover earlier in the session, but this was resolved by the final leg of the bearish move.

Volume vs. Price Action:

• Bullish divergence occurred earlier in the day when volume was lower but price was rising.
• Bearish confirmation occurred around 15:15 ET, as volume surged along with a sharp drop in price.

Fibonacci Retracements and Key Levels

Fibonacci retracements drawn from the high of 29.33 to the low of 27.59 show key levels of interest. The 38.2% retracement level sits at ~28.67, while the 61.8% level is at ~28.11. These levels may act as potential support zones during a retracement. Price currently rests below both, indicating a deeper correction may be in play.

On the 15-minute chart, a swing high at 29.33 and a swing low at 27.59 provide a reference for potential short-term bounces. The 61.8% level at 27.93 may serve as the first retest zone if the price finds buyers. If it fails this level, the next support is at 27.59, where a potential bounce or reversal could begin.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position when a bearish engulfing pattern forms on a 15-minute chart and the 20-period moving average crosses below the 50-period line. The stop-loss would be placed above the high of the engulfing pattern, while the take-profit target could be set at the 61.8% Fibonacci level of the recent swing. This strategy would aim to capture the continuation of the bearish trend observed in the past 24 hours.