Market Overview for Harvest Finance/Tether (FARMUSDT)

Summary
• FARMUSDT formed a bullish engulfing pattern near $19.40, suggesting potential upward momentum.
• Price traded within a $19.20–$19.86 range, showing consolidation with no clear breakouts.
• RSI hovered near 50, indicating neutral momentum, while volume spiked near the $19.75–$19.81 level.
• A 61.8% Fibonacci retracement level at $19.57 coincided with a key resistance area.
• Bollinger Bands expanded after midday ET, indicating rising volatility.

Harvest Finance/Tether (FARMUSDT) opened at $19.24 on 12/12, reached a high of $19.86, and closed at $19.67 at 12:00 ET on 12/13, with a 24-hour volume of 4,689.99 units and turnover of $90,703. The price action reflected a period of consolidation and gradual bullish pressure after midday.

**

Structure & Formations

A bullish engulfing pattern emerged at the $19.32–$19.38 level, followed by a strong push toward $19.75–$19.86. Key support was seen at $19.50, where price rebounded multiple times. A doji at $19.66–$19.68 suggested indecision.

**

Moving Averages

On the 5-minute chart, the 20-period MA hovered near $19.50, supporting the price as it approached that level. The 50-period MA acted as a dynamic support above $19.60, reinforcing the bullish bias. On the daily chart, the 200-period MA remains a key resistance above $19.80.

**

MACD & RSI

The MACD showed a narrowing histogram as price consolidated near $19.60–$19.70, with a bullish crossover forming in the early hours of 12/13. RSI remained in neutral territory, avoiding overbought levels (70+), suggesting room for further upside.

**

**

Bollinger Bands

Bollinger Bands expanded significantly after 21:45 ET, aligning with the $19.75–$19.86 high. Price stayed within the upper and lower bands most of the day, with a brief touch of the upper band suggesting strength without confirmation.

**

Volume & Turnover

Volume spiked at $19.75–$19.86, coinciding with a significant portion of the day’s total turnover. The $19.75–$19.86 range saw the highest volume, supporting the idea of institutional or large-scale accumulation.

**

**

Fibonacci Retracements

A 61.8% retracement level at $19.57 acted as a pivot point, with price consolidating around this level in the late hours. Daily retracement levels indicated $19.66–$19.67 as a probable short-term equilibrium.

**

Market Outlook

FARMUSDT appears to be consolidating above key support at $19.57, with potential to test $19.75–$19.86 resistance in the coming 24 hours. A breakdown below $19.40 could trigger a short-term pullback. Investors should watch for volume confirmation on any breakouts.