Market Overview for Harvest Finance/Tether (FARMUSDT): 24-Hour Summary as of 2025-09-26

• Price drifted lower overnight, closing near session lows with bearish momentum.
• Volatility spiked during the 17:15–19:00 ET period, forming a bearish engulfing pattern.
• Volume picked up during the selloff, confirming bearish sentiment.
• RSI remains in oversold territory, suggesting potential for short-term rebound.
• Key support appears at 25.25, with a critical test expected in the next 24 hours.

The 24-hour session for Harvest Finance/Tether (FARMUSDT) opened at 26.08 at 12:00 ET–1 and drifted to an intraday high of 26.21 before closing near the session low of 25.61 at 12:00 ET. Total volume traded over the 24-hour window was 22,399.19 with a notional turnover of $569,486. The pair has shown increasing volatility and bearish momentum amid growing bearish conviction.

Structure & Formations

The price structure over the past 24 hours reveals a series of bearish candlestick formations, particularly during the 17:15–19:00 ET period when a bearish engulfing pattern formed after a sharp decline. This pattern is a strong bearish signal, especially when accompanied by increased volume. Notable support levels are forming around 25.25 and 25.40, with 25.75 appearing as a short-term resistance area. A doji formed briefly at 09:45 ET, suggesting indecision, but the price failed to recover beyond 25.75.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both sloping downward, reinforcing the bearish bias. The 50-period line sits just above 25.80, and the 20-period line is slightly lower, indicating continued downward pressure. On the daily chart, the 50-period moving average has crossed below the 100-period line, a bearish signal. The 200-period line remains above the current price, suggesting medium-term support may yet provide a bounce.

MACD & RSI

The MACD line is negative and trending lower, indicating waning bullish momentum. The histogram has also been shrinking, but with the signal line still above zero, a further decline remains likely. The RSI is currently in oversold territory at 28, suggesting potential for a short-term rebound. However, divergence is not yet present, so the oversold reading is more indicative of short-term exhaustion than a reversal setup.

Bollinger Bands

Bollinger Bands have widened significantly during the selloff, indicating increased volatility. The price has remained near the lower band for most of the session, particularly during the 17:15–19:00 ET period. This position near the band is typical in bearish environments and may continue unless a strong bullish catalyst emerges.

Volume & Turnover

Volume spiked during the 17:15–19:00 ET period, confirming the bearish breakdown. The total 24-hour volume was 22,399.19, with the largest 15-minute candle contributing 1,576.329 in volume. Turnover has been aligned with the price action, with higher volumes observed during downward moves. No significant divergence between volume and price action has been observed, suggesting the bearish trend remains intact.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (26.21–25.44), key levels include 25.69 (38.2%), 25.56 (50%), and 25.47 (61.8%). The 25.56 level has been tested and failed multiple times, reinforcing its role as a key resistance. On the daily chart, retracement levels from the previous swing high to the recent low suggest potential support at 25.25 and resistance at 25.75.

Backtest Hypothesis

A proposed backtesting strategy involves entering a short position when a bearish engulfing pattern forms near the upper Bollinger Band, confirmed by a volume spike and a close below the 50-period moving average. A stop-loss is placed at the most recent swing high, and a target is set at the next Fibonacci retracement level. Based on the recent action, this setup could have captured the 17:15–19:00 ET selloff. This strategy would benefit from tight correlation between volume, price structure, and moving averages, making it well-suited for a volatile, bearish environment like the one observed for FARMUSDT.