Market Overview for Harvest Finance/Tether (FARMUSDT): Volatility, Momentum, and Breakout Potential

• Price surged 7.13% from $28.96 to $30.05 over 24 hours, with a high of $30.13 and low of $28.92.
• RSI hit overbought territory near 70, suggesting short-term momentum may pause or correct.
• Bollinger Bands widened, indicating rising volatility, with price closing near the upper band.
• Volume spiked to 96.339 at the 10:00 AM ET candle, confirming a breakout attempt.
• A bullish engulfing pattern emerged at 8:30 AM ET, followed by a strong continuation to the high.

At 12:00 ET on 2025-09-13, Harvest Finance/Tether (FARMUSDT) opened at $28.96, reached a high of $30.13, touched a low of $28.92, and closed at $30.05, up 7.13%. Total trading volume over the 24-hour period was 8,441.299, with notional turnover amounting to 253,459.83. The price action reflects strong bullish momentum, particularly in the early morning hours.

Structure & Formations

The candlestick pattern shows a strong bullish engulfing formation at the 8:30 AM ET candle (open: $29.51, close: $29.86), followed by a continuation of buying pressure into the upper range of the day. A key resistance level appears to be forming near $30.05, where the price consolidated in the late afternoon. A critical support level is visible around $29.40–29.45, where several bearish rejections occurred, including a doji at 1:45 AM ET and a bearish harami at 4:45 AM ET. These levels may become pivotal in the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, with the 20-period above the 50-period, confirming the short-term upward trend. The daily chart shows a similar trend, with the 50-period and 100-period moving averages converging at around $29.65–29.70, suggesting a potential consolidation area if price pulls back.

MACD & RSI

The MACD line crossed above the signal line early in the morning, signaling a bullish crossover. The histogram expanded, indicating growing momentum, peaking at around 10:30 AM ET. RSI reached overbought territory near 70 at 10:00 AM ET and again at 11:15 AM ET, suggesting a potential pullback or consolidation in the short term. However, given the sustained volume and continuation pattern, a breakout may still be imminent.

Bollinger Bands

Bollinger Bands expanded significantly during the morning session, reflecting heightened volatility. The price closed near the upper band at $30.05, suggesting strong short-term bullish pressure. A pullback into the band’s central line (around $29.75) could see renewed buying interest, especially if volume increases on the next upward leg.

Volume & Turnover

The highest volume spike occurred at 10:00 AM ET (volume: 96.339), confirming the breakout attempt. Notional turnover also spiked at that time (amount: 2,820.776), indicating institutional or large-scale participation. The divergence between volume and price during the late afternoon (lower volume on higher price) suggests weakening momentum, but the overall volume profile remains supportive of the bullish trend.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $28.92 to $30.13, the key retracement levels are at 38.2% ($29.73), 50% ($29.53), and 61.8% ($29.33). The price has held above the 50% level, suggesting that a retest of the 38.2% area could trigger further buying interest. On the daily chart, the 61.8% retracement of the recent major swing from $28.96 to $30.13 is at $29.50, a potential support zone to watch.

Backtest Hypothesis

Given the strong momentum and confirmed breakout pattern, a potential backtest strategy could involve entering long on a close above the 61.8% Fibonacci level ($29.33) with a stop-loss below the recent swing low at $28.92. The target for a short-term trade would be the 38.2% retracement at $29.73 and then the high of the day at $30.13. This strategy aligns with the observed volume and price behavior, particularly the morning breakout and sustained bullish momentum. Traders could also consider a trailing stop once the 50-period moving average is crossed above.