Market Overview for Harvest Finance/Tether (FARMUSDT) - 24-Hour Analysis (2025-09-23)

• Price surged to $26.90 before retracting toward $26.50
• Bullish momentum followed by consolidation near $26.75
• Volatility remains elevated with volume spiking above 1,000
• RSI indicates overbought levels mid-day, followed by bearish divergence
• Bollinger Bands show recent expansion following a tight range breakout

FARMUSDT opened at $25.91 on 2025-09-22 at 16:00 ET and reached a high of $26.90 before closing at $26.78 at 12:00 ET on 2025-09-23. The total volume over 24 hours was 8,982.85, with a notional turnover of $241,621.54. Price action showed strong early momentum followed by a consolidation phase.

Structure & Formations

The pair formed a bullish engulfing pattern early in the session, followed by a large bullish candle at 20:45 ET, which pushed price toward the 61.8% Fibonacci level from the prior bearish swing. A key support level appears near $26.50, while resistance sits above $26.90. A doji formed near $26.50 at 03:15 ET, indicating indecision and potential short-term support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, with price currently above both. On the daily chart, the 50-period MA is near $26.45, while the 200-period MA sits around $25.85, indicating a longer-term bullish bias.

MACD & RSI

The MACD line showed a strong positive crossover in the early part of the session and remained above the signal line, indicating sustained bullish momentum. The RSI reached overbought territory above 70, peaking at 74, but later showed bearish divergence as price continued higher but RSI declined, suggesting potential exhaustion in the move.

Bollinger Bands

Bollinger Bands widened significantly after a period of contraction, reflecting increased volatility. Price closed near the upper band at 16:00 ET, suggesting overbought conditions. A move back toward the mid-band would indicate a possible retracement toward $26.60–$26.65.

Volume & Turnover

Volume surged at the 20:45 ET candle, with a 15-minute volume of 894.095, signaling strong buying interest. Notional turnover also spiked during this period, aligning with price strength. Later in the session, volume decreased, suggesting a potential pause in buying momentum.

Fibonacci Retracements

The 61.8% Fibonacci level from the morning bearish swing is near $26.90, which was briefly touched before price pulled back. A move below the 38.2% level at $26.60 could signal a deeper correction.

Backtest Hypothesis

Given the observed bullish patterns and strong volume confirmation, a potential backtesting strategy could involve entering long positions on a bullish engulfing pattern formation with stop-loss placed below the recent support at $26.50 and take-profit aligned with the 61.8% Fibonacci level. This approach would leverage the early session’s bullish momentum and key levels identified in the RSI and Bollinger Band analysis.