Harvest Finance/Tether (FARMUSDT) Market Overview

• Price dropped 4.7% on 15-minute chart after sharp sell-off post 20:15 ET.• RSI fell below 30, indicating oversold conditions with potential for near-term bounce.• Volume spiked during the selloff, confirming bearish conviction.

The FARMUSDT pair opened at $23.62 at 11:59 ET on 2025-11-11 and closed at $23.45 at 12:00 ET on 2025-11-12, with a high of $23.79 and a low of $22.71. Total volume for the 24-hour period was approximately 12,067.97 FARM, while notional turnover reached $275,690. The asset appears to be consolidating after a sharp correction earlier in the session.

Structure & Formations

Over the past 24 hours, FARMUSDT formed a bearish inside bar pattern during the early ET hours, suggesting short-term indecision. A key support level formed near $22.71 after a 100+ FARM sell-off at 20:15 ET, which coincided with a strong bearish reversal candle. Resistance remains in the $23.50–$23.60 zone, where price struggled to break above multiple times in the early part of the session.

Support & Resistance Levels (15-min chart)

- Support 1: $22.71 (recent low)- Support 2: $22.90 (psychological level)- Resistance 1: $23.20 (immediate retest level)- Resistance 2: $23.50 (prior consolidation area)

A bearish breakdown below $22.71 could open the door to the next support near $22.40. Conversely, a rebound above $23.20 may signal short-covering and a possible return to the $23.60–$23.70 range.

Moving Averages

On the 15-minute chart, FARMUSDT is trading below both the 20-EMA and 50-EMA, with the 20-EMA currently at ~$23.55 and the 50-EMA at ~$23.62. On the daily chart, price has crossed below the 200-SMA (~$23.75), reinforcing a bearish bias. A sustained move above the 200-SMA could trigger a reevaluation of the medium-term trend.

MACD & RSI

The RSI has fallen below 30 and remains in oversold territory, hinting at potential short-covering or a rebound. However, the MACD is in negative territory, with both the line and signal line trending lower, suggesting ongoing bearish momentum. A divergence between RSI and price could be a cautionary sign for potential false rebounds.

Bollinger Bands

Price has expanded significantly within the Bollinger Bands over the past 24 hours, with volatility increasing as the bands widened. The asset is currently trading near the lower band (~$22.71), which, while a common oversold signal, is more reliable when accompanied by divergences in volume and momentum indicators.

Volume & Turnover

The 15-minute chart revealed a sharp increase in volume during the sell-off around 20:15 ET, with a single candle accounting for over 1,163.947 FARM traded. Notional turnover during this period spiked to ~$27,600, confirming the bearish bias. However, a lack of follow-through buying above $23.20 has left the asset vulnerable to further declines unless a reversal candle forms with strong volume.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $23.79 (high) to $22.71 (low), the 61.8% retracement level sits at ~$23.24, which coincides with the most recent 15-minute candle close. A break above this level could see a test of the 78.6% retracement (~$23.65). Below, the 38.2% level (~$22.94) is showing strong support.

Backtest Hypothesis

The current discussion on potential reversal signals such as the Hammer candlestick pattern provides a natural segue into backtesting strategies. Given that precomputed Hammer signals were not available, a self-implemented scan based on the OHLC data would provide more accurate and actionable results. A programmatic filter of Hammers—defined by a real body ≤ 25% of the candle range, lower shadow ≥ 2× real body, and minimal upper shadow—could be applied directly to the provided OHLC dataset. This would allow for a more precise evaluation of FARMUSDT's potential reversal points and improve the accuracy of the trading model. A daily candle-level scan would also be sufficient for capturing meaningful Hammer patterns in this lower-volume asset.