Market Overview for Harvest Finance/Tether USDt (FARMUSDT)

• Price surged from $27.53 to $28.46, with a closing at $28.41 after a bullish breakout.
• Volume rose sharply to 1,611.34, while turnover hit $45,543.89—confirming strong accumulation.
• RSI crossed overbought (85), MACD positive divergence suggests momentum may persist.
• Bollinger Bands expanded, signaling increased volatility amid key support and resistance levels.
• Bullish engulfing and hammer patterns emerged at key levels, hinting at potential short-term continuation.

Price Action Summary

Harvest Finance/Tether USDt (FARMUSDT) opened at $27.53 on 2025-09-04 at 12:00 ET, surged to a high of $28.46, and closed at $28.41 by 12:00 ET on 2025-09-05. Total volume for the 24-hour period reached 1,611.34, with notional turnover at $45,543.89.

The price action showed a strong bullish trend, with a bullish engulfing pattern forming between 09:45 and 10:00 ET, as well as a hammer near $28.01. These patterns suggest accumulation and a likely continuation of the uptrend, especially as the price has held above the $27.75 psychological level for over 12 hours.

Structure & Key Levels

Support levels appear at $27.62 and $27.51, with the $27.50 zone showing repeated rejections and a possible floor for near-term consolidation. Resistance is now at $28.20, and a break above $28.40 could extend the rally toward $28.60, based on recent Fibonacci retracement levels from the key swing low at $27.53 to the high at $28.46.

A notable bearish doji appeared at $28.05 on 2025-09-05 at 11:15 ET, suggesting hesitation in the short term. However, volume and price action since then have rejected this, with the price forming a bullish inverted hammer pattern just below $28.10, indicating a strong likelihood of a follow-through.

Technical Indicators

MACD (12,26,9) turned positive and crossed above the signal line around 05:45 ET, confirming bullish momentum. The RSI (14) surged to 85, entering overbought territory, which typically indicates a potential pullback—but volume remains strong, suggesting the move is not exhausted.

Bollinger Bands expanded from $27.50 to $28.46, reflecting heightened volatility. Price is currently near the upper band at $28.41, which could act as a temporary cap if volume weakens. However, sustained volume above $28.30 suggests this level may be challenged.

The 20-period and 50-period moving averages on the 15-minute chart have been in a bullish alignment, with the 50-period now crossing above the 20-period, forming a “golden cross” that supports further upside.

Volume and Turnover Analysis

Volume surged to 1,611.34 over the 24-hour period, with a significant spike at $28.20–$28.46 from 13:15 to 14:00 ET. Notional turnover also spiked during this period, confirming the strength of the move.

Notably, the turnover/volume ratio increased from ~27 to ~28.30–28.46, indicating higher-priced trades—suggesting accumulation by larger players. The divergence between volume and price at the $27.95–$28.03 zone appears bearish, but the price quickly rejected this area, with no bearish continuation, suggesting strength in the move higher.

Backtest Hypothesis

If a backtesting strategy were to be applied, one could test a breakout system based on the 15-minute chart, triggering long entries when price closes above the $28.20 level—confirmed by both volume and price action. A stop-loss could be placed just below the $27.62 support level, with a target at $28.60 using Fibonacci extensions. This approach would leverage the current MACD and RSI divergence, while confirming momentum through volume expansion.