Market Overview for Harvest Finance/Tether (FARMUSDT)

• FARMUSDT surged 10.3% in 24 hours, closing near a fresh high at $27.95
• Strong bullish momentum emerged after a key 15-minute breakout above $27.6
• Volatility expanded as price broke out of a consolidation phase
• High-volume rally confirmed strength in the final 6 hours before 12:00 ET
• RSI reached overbought territory, suggesting potential for near-term profit-taking

At 12:00 ET–1 on 2025-10-04, FARMUSDT opened at $27.43 and closed at $27.95 on 2025-10-05. The pair reached a high of $28.44 and a low of $27.40 during the 24-hour period. Total volume amounted to 12,865.80 FARM and notional turnover of $359,215.34. The price action reveals a strong breakout phase in the last 6 hours, supported by increasing volume and momentum.

Structure & Formations

Price action on the 15-minute chart shows a decisive breakout above a 24-hour consolidation range between $27.40 and $27.61. A bullish engulfing pattern formed at $27.61–$27.63 on the morning of 2025-10-05, followed by a strong green candle with a long lower wick, indicating rejection of lower prices. Resistance at $27.98 was briefly tested and failed to hold, suggesting buyers may push for a new high above $28.33. Support now lies at the 20-hour moving average near $27.82 and the 50-hour MA at $27.88.

Moving Averages

The 20-hour MA (27.90) and 50-hour MA (27.86) both crossed above the 100-hour MA, forming a bullish crossover. On the daily timeframe, the 50-day MA at $27.60 and 200-day MA at $27.55 both sit below the current price, confirming the short-term bullish bias. The 200-day MA, however, may act as a psychological floor if the recent rally pauses.

MACD & RSI

The MACD histogram turned positive in the late hours of 2025-10-05, with the line crossing above the signal line just before 07:00 ET, signaling strengthening bullish momentum. RSI climbed to overbought territory (70–74) in the final hours of the session, suggesting the pair may experience a pullback in the near term. A bearish divergence was observed in the last 2 hours as price continued higher while RSI flattened.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout phase, with the 20-period band width rising from 0.06 to 0.18. Price moved above the upper band at $28.33 and briefly entered overbought territory. The middle band (20-period SMA at $27.93) closely aligns with the recent 50-period MA, indicating convergence in the short-term trend. A retest of the lower band at $27.80 could provide a buying opportunity.

Volume & Turnover

Volume surged during the breakout, peaking at 699.28 at 14:45 ET and 1150.19 at 15:15 ET. Turnover spiked alongside these volume surges, confirming price action strength. A volume divergence occurred between 16:00–17:00 ET as price moved higher with declining volume, suggesting waning momentum. The overall volume profile favors continuation in the near term, assuming price remains above $27.85.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour swing from $27.40 to $28.44, key levels include 61.8% at $28.17 and 38.2% at $27.85. The 50% retracement at $27.92 aligns with the current 20-period SMA. On the daily chart, the 61.8% retracement of the broader $27.40–$28.44 move aligns with $28.17, suggesting a potential target for short-term buyers.

Backtest Hypothesis

Given the recent breakout and strong volume confirmation, a potential backtest strategy could focus on entries following a confirmed close above key resistance levels like $27.98 and $28.17, with stops placed below the 50-hour MA at $27.88. Targets could be set at 61.8% and 100% of the recent consolidation range. This strategy would align with the observed momentum and volume patterns, especially when paired with RSI divergence signals to identify potential pullback entries.