Market Overview for Harvest Finance/Tether

Summary
• Price fell from $19.33 to $18.88 amid bearish momentum and diverging volume.
• A potential short-term support is forming near $18.87 with recent bullish rejection.
• MACD turned negative while RSI approached oversold territory, suggesting possible bounce.
• Volatility expanded significantly after a sharp drop, with Bollinger Bands widening.
• Volume increased during the downward move, confirming bearish bias but hinting at exhaustion.

FARMUSDT Daily Movement and Momentum

Harvest Finance/Tether (FARMUSDT) opened at $19.14 on 2026-01-07 at 12:00 ET, reached a high of $19.44, and closed at $18.88 by 12:00 ET on 2026-01-08, with a daily low of $18.73. Total trading volume was 6,313.47, and notional turnover was $123,141.74 over the 24-hour period.

Price action showed a bearish bias from mid-evening, with a decisive breakdown below key support levels and a large-volume bearish engulfing pattern confirming the downtrend. RSI dipped toward oversold territory, suggesting a potential bounce, while MACD turned negative, reinforcing downward momentum. Bollinger Bands expanded following increased volatility, with price currently near the lower band.

Structure and Volume Dynamics

The move below $19.00 saw strong bearish conviction, with volume rising during the decline. However, the final 5-minute candle closed near the lower end of the range, with a relatively smaller volume, hinting at possible short-covering or exhaustion. A bullish rejection at $18.87 may provide a near-term floor, with the 38.2% Fibonacci retracement at $19.06 and 61.8% at $19.16 offering key resistance levels ahead.

Short-Term Outlook and Risk

While bearish momentum appears to be waning and a bounce toward $19.00 is possible, a break below $18.87 could target the next support at $18.73. Investors should monitor for a reversal candle near $18.87 and divergence in RSI to confirm a potential bounce. However, the broader trend remains bearish, and further downward movement cannot be ruled out if volume fails to confirm a reversal.