Harvest Finance Market Overview

• Harvest Finance (FARMUSDT) closed 0.33% lower at $27.70 after a sharp post-midnight decline.
• Key support tested at $27.60–27.70; volume spiked during breakdown from $28.45–28.55.
• 15-minute RSI entered oversold territory, while MACD turned bearish midday.
• Volatility expanded with a 15-minute Bollinger Band break and wide range near 04:00 ET.
• Large bearish divergence in price and turnover after 07:00 ET confirmed selling pressure.

Market Overview

Harvest Finance (FARMUSDT) opened at $28.18 on 2025-08-04 at 12:00 ET, reaching a high of $28.67 before closing at $27.70 on 2025-08-05 at 12:00 ET. The total traded volume across the 24-hour period was 8,806.199 units, with notional turnover of $243,305.26.

Price action suggests a breakdown in structure after a midday attempt to retest the $28.45–28.55 resistance cluster failed. A bearish engulfing pattern formed around 07:00–08:00 ET, confirming the breakdown and pushing price toward the 27.70 level. A 15-minute RSI reading dipped below 25 after 08:00 ET, indicating potential oversold conditions, although this should be treated as a cautionary signal rather than a reversal trigger.

Structure & Formations

A clear descending triangle formed between 04:00–08:00 ET, with the lower trendline breaking at 27.85 and the breakdown occurring at 27.60–27.70. A long lower shadow on the candle at 07:00 ET signaled buying attempts at key support, but failed to hold. A 15-minute doji appeared at 09:00 ET, indicating indecision, followed by a bearish continuation.

Moving Averages

Short-term averages (20/50 15-minute EMA) crossed bearish at 05:00 ET, with price falling below the 50-period line. On the daily chart, the 50-day EMA is at $27.95, suggesting a medium-term bearish bias, though the 200-day EMA remains higher at $28.35.

MACD & RSI

The 15-minute MACD turned negative at 04:00 ET, with the histogram shrinking through the breakdown. RSI hit 23–25 by 08:00 ET, a potential oversold trigger but not a definitive buy signal. A bearish divergence formed between the 50-period EMA and price after 07:00 ET, reinforcing the bearish momentum.

Bollinger Bands

Volatility expanded as the 15-minute Bollinger Bands widened to 140 basis points by 04:00 ET. Price closed the session at the lower band, a bearish sign. The 20-period standard deviation increased from 0.04 to 0.07 during the breakdown.

Volume & Turnover

Volume surged during the breakdown, with the 07:00–08:00 ET 15-minute candle showing $21,453.59 in turnover and a volume of 544.245 units — the highest of the 24-hour period. Price and turnover diverged after 09:00 ET as volume dropped while price continued lower, suggesting exhaustion in the bear move.

Fibonacci Retracements

Key 15-minute Fibonacci levels were tested during the breakdown, with the 61.8% retracement at $27.85–27.88 offering a final line of defense. Price closed near the 78.6% level at $27.65–27.70. Daily Fib levels suggest a potential bounce from 27.60–28.00 if buyers return.

In the next 24 hours, FARMUSDT may test the 27.60–27.70 support zone for a potential rebound. However, a sustained close below $27.60 could accelerate the downward trend. Investors should remain cautious and watch for confirmation signals on 15-minute RSI and volume.