Market Overview for Harvest Finance/Tether

Summary
• Price declined sharply during early ET hours before consolidating near $17.40.
• A bearish engulfing pattern emerged around $17.44–$17.41 as volume surged.
• RSI reached oversold territory at 28, suggesting potential for a near-term bounce.
• Volatility expanded as Bollinger Bands widened during the sell-off.
• Turnover spiked sharply at 19:00–20:00 ET with a large volume candle.

FARMUSDT opened at $17.80 on 2025-12-20 at 12:00 ET, reached a high of $17.91, a low of $17.16, and closed at $17.47 by 12:00 ET the next day. Total volume was 10,825.07, with a notional turnover of $188,810.30.

Structure & Formations

Price formed a bearish engulfing pattern near $17.44–$17.41 during a strong volume leg, signaling a potential short-term reversal. The 20-period 5-minute EMA crossed below the 50-period line, reinforcing bearish momentum. . A key support level appears forming around $17.40–$17.35, with resistance at $17.56 where price previously stalled.

MACD & RSI

MACD turned negative after a mid-ET afternoon sell-off, with the line crossing below the signal line, confirming bearish bias. RSI dropped to 28, indicating oversold conditions and hinting at a potential short-term bounce. However, the move remains in a broader downtrend.

Bollinger Bands

Volatility expanded significantly during the sharp decline, with Bollinger Bands widening and price reaching the lower band at $17.16. Price has since consolidated near the middle band, suggesting reduced directional bias but continued range-bound trading.

Volume & Turnover

Volume surged between 19:00 and 20:00 ET with a massive 5,192.909 FARMUSDT traded at $17.61–$17.44, coinciding with a large notional turnover spike. This suggests a major liquidation event, possibly from large holders or algorithmic selling.

Fibonacci Retracements

On the daily chart, FARMUSDT has retested the 61.8% Fib level around $17.40 after a prior swing from $17.91 to $17.16. A break below this level may target the 78.6% retracement at $17.21. On the 5-minute chart, price appears to have found a bounce near the 38.2% Fib at $17.45.

Looking ahead, a test of the $17.40–$17.35 support range could trigger further consolidation or a short-term rebound. Traders should be cautious of a potential breakdown below key support, which may accelerate the decline toward $17.20.