Harvest Finance/Tether (FARMUSDT) Market Overview

Summary
• Price surged from $19.6 to $23.75 on heavy volume after a deep pullback.
• Strong bullish momentum on 15-min chart with RSI and MACD turning higher.
• Volatility spiked in final hours, with Bollinger Bands widening sharply.

Harvest Finance/Tether (FARMUSDT) opened at $20.49 on 2025-11-04 at 12:00 ET and surged to a 24-hour high of $23.75 before settling at $22.03 by 12:00 ET today. The total volume over the 24-hour period reached approximately 55,888.06 FARM, with a notional turnover of $1,080,645.89. The pair traded within a volatile range, showing clear signs of retesting key levels and building bullish momentum.

The structure of the candlestick data shows a bearish breakdown to $19.60 followed by a sharp reversal and strong rally, forming a bullish engulfing pattern on the daily chart. Key support levels at $19.60 and $20.00 held during the pullback, while resistance at $22.80 and $23.75 were broken with increasing volume, particularly during the final 15-minute candle which printed a high of $23.75 and a close of $22.61.

On the 15-minute chart, the 20-period and 50-period moving averages crossed upward during the final 2 hours of the session, signaling a potential shift into bullish territory. The MACD line turned positive after a deep bearish phase, and the histogram showed a rapid expansion, confirming renewed buying pressure. RSI reached overbought territory near 75, suggesting a potential correction, but the price remained above the 40–60 range, indicating sustained buyer interest. Bollinger Bands showed a sharp expansion, with prices trading near the upper band for the final 3 hours, signaling heightened volatility and potential continuation of the trend.

Fibonacci retracement levels on the recent swing (from $19.60 to $23.75) indicate key levels at $22.31 (38.2%) and $21.48 (61.8%), which were both tested with strong volume. The 61.8% level appears to have acted as a critical support and pivot point for the reversal. Volume spiked significantly during the final push above $23.75, suggesting conviction in the move. However, a divergence between price and volume in the final candle—where price rose sharply but volume dropped—hints at a possible exhaustion in the buying trend.

Backtest Hypothesis
The backtest strategy outlined hinges on the MACD Golden Cross to identify long entry points in the FARMUSDT pair. Given the recent bullish reversal and the MACD turning positive in the final hours, this would have generated a buy signal. However, the data retrieval failure for MACD series highlights a critical barrier to implementing the backtest without confirming the correct symbol or providing OHLCV data directly. A successful backtest would need to verify the symbol (e.g., FARMUSDT.BINANCE) or switch to an alternative data source, ensuring the strategy aligns with historical data integrity. Without confirmation, the signal appears valid based on the latest 24-hour action, but the lack of full MACD history could impact the accuracy of the strategy’s performance assessment.