Harvest Finance/Tether (FARMUSDT) Market Overview

• Price surged 8.4% in 24 hours, forming a bullish breakout above prior resistance
• RSI crossed into overbought territory, suggesting potential momentum exhaustion
• Volume spiked during late-night trading, confirming the strength of the rally
• Bollinger Bands widened significantly, indicating heightened volatility
• A bullish engulfing pattern formed near $26.40, signaling short-term bullish bias

Opening Snapshot

Harvest Finance/Tether (FARMUSDT) opened at $26.40 on 2025-09-23 at 12:00 ET and closed at $27.04 by 2025-09-24 at 12:00 ET. The 24-hour high was $27.25, while the low was $26.10. Total trading volume across the 24-hour period was 9,648.14 units, with a notional turnover of $255,273.93.

Structure & Formations

The 24-hour chart displayed a strong bullish bias, driven by a key breakout above the $26.80 resistance zone. A notable bullish engulfing pattern formed during the late-night session, confirming buyers' control at $26.40. Additionally, a small doji at $27.04 in the last candle of the 24-hour window suggests a possible short-term consolidation phase. Key support levels to watch include $26.55 and $26.32, while resistance remains at $27.17 and $27.25.

Moving Averages

On the 15-minute chart, the price moved above both the 20 and 50-period moving averages, indicating a strong near-term uptrend. On the daily chart, the 50-period MA now sits at $26.75, crossing above the 100-period at $26.68—confirming a positive trend. The 200-period MA remains at $26.35, and the price is trading above this key long-term line, suggesting bullish momentum could persist.

MACD & RSI

MACD crossed above the signal line, with a positive divergence observed during the late-night rally, supporting the likelihood of a continued upward trend. RSI surged above 70 into overbought territory, suggesting a potential pullback is probable. However, the sustained volume suggests that buyers may continue to push the price higher despite overbought conditions.

Bollinger Bands

Bollinger Bands expanded significantly during the rally, with the price trading above the upper band at several points during the session. This indicates heightened volatility and strong buying pressure. The price is currently trading near the mid-band, suggesting a possible retest of key support or continuation of bullish momentum.

Volume & Turnover

Volume spiked during the late-night and early-morning sessions, especially between 03:30 ET and 06:30 ET, coinciding with the breakout above $26.80. Notional turnover also surged during these periods, confirming the strength of the move. A divergence appeared between volume and price action after 09:30 ET, which could signal a short-term pause or consolidation phase.

Fibonacci Retracements

Fibonacci levels for the 24-hour swing from $26.10 to $27.25 show that the price is currently near the 76.4% retracement level at $27.01. A break above $27.17 would target the 78.6% level at $27.23. For the downside, the 61.8% level at $26.59 remains a key support to watch.

Backtest Hypothesis

A backtesting strategy could be designed to enter long positions on a breakout above the 50-period moving average, with a stop-loss placed below the most recent swing low. A trailing stop could be triggered after a 3% move in favor, with a target aligned to the 76.4% Fibonacci retracement level. The MACD crossing above the signal line and RSI above 50 would confirm the signal, while volume surges add further validation. This approach aligns with the observed structure and momentum patterns seen in the 24-hour data.