Harvest Finance/Tether (FARMUSDT) Market Overview

• Price surged 6.5% on robust volume after breaking above a key 15-minute resistance near $21.85.
• MACD and RSI showed bullish divergence, suggesting momentum is aligning with price.
• Volatility expanded during the session, pushing price above the upper Bollinger Band by midday.
• Turnover spiked during a strong 15-minute rally, confirming the breakout.
• Fibonacci retracement levels at 22.22 and 22.57 are now critical for near-term direction.

The Harvest Finance/Tether (FARMUSDT) pair opened at $21.44 on 2025-10-17 at 12:00 ET and closed at $22.14 24 hours later. The price reached a high of $22.64 and a low of $21.44 during the session, with a total volume of 14,195.09 and a notional turnover of approximately $309,046. The price action showed a clear bullish bias, particularly after a sharp rally around 08:30 ET that pushed the pair above key resistance and into overbought territory on RSI.

On the 15-minute chart, the 20-period and 50-period moving averages both crossed to the bullish side, confirming upward momentum. The 200-period moving average on the daily chart remained below current price, suggesting a possible trend reversal from bearish to bullish. The RSI reached a peak of 68, indicating strong buying pressure but still not overbought, while the MACD remained positive and expanding, suggesting continued upward bias.

Bollinger Bands widened significantly in the early part of the session, reflecting increasing volatility. Price tested the upper band multiple times but remained above the mid-band, indicating strength. The most recent swing high at $22.64 and low at $21.44 formed a clear Fibonacci retracement range, with the 61.8% level at $22.22 and 78.6% at $22.57 acting as potential psychological and technical resistance.

Volume and turnover data aligned well with price action, particularly during the breakout above $21.85. A notable volume spike occurred around 08:30 ET as the pair surged toward $22.64, confirming the strength of the move. Divergence was not observed between price and turnover, suggesting the move is likely supported by genuine on-chain activity rather than wash trading or false signals. Looking ahead, the next 24 hours could see a test of the $22.57 level, but a pullback toward $21.75 may offer a better risk-reward setup if momentum slows.

A bearish-Engulfing pattern is a potential reversal signal in candlestick charting, typically appearing at the top of an uptrend. It consists of a large bearish candle that completely engulfs the previous bullish candle, signaling a shift in market sentiment. In this case, the data source for FARM/USDT is currently unavailable, preventing automated detection of such patterns. This is critical for backtesting the strategy, as the historical dataset needed for identifying and acting on these signals cannot be retrieved. Without this data, evaluating the effectiveness of using bearish-Engulfing patterns for generating buy signals is not possible at this time.