Market Overview for Harvest Finance/Tether (FARMUSDT)

Summary
• Price surged from $18.82 to $19.53 amid high volume, suggesting bullish momentum.
• A bullish engulfing pattern formed during the ET night, followed by consolidation.
• RSI reached overbought territory, indicating potential pullback risk.
• Bollinger Bands widened, showing increased volatility.
• Turnover spiked during the 9:15–10:15 ET session, aligning with price highs.

Harvest Finance/Tether (FARMUSDT) opened at $18.82 on 2026-01-16 and surged to a high of $19.53 before closing at $19.48 on 2026-01-17 at 12:00 ET. Total volume stood at 6,793.46 units with turnover of $129,509.59, showing strong buying interest.

Structure & Formations

A bullish engulfing pattern emerged at 20:00–20:15 ET after a prolonged consolidation phase, followed by a strong rally into early ET hours. A key resistance formed around $19.46–19.53, where price stalled twice and reversed. A notable doji appeared at 01:30 ET, signaling indecision after a sharp rise. Support appears to be holding at $19.22–19.29, with a 61.8% Fibonacci retracement level aligning near this area.

Moving Averages and Momentum

Short-term 20/50-period moving averages on the 5-minute chart showed a bullish crossover at the start of the rally, confirming the upward shift. RSI reached 73 by 09:15 ET, signaling overbought conditions and increasing the likelihood of a near-term correction. MACD showed a positive histogram with a bullish crossover, reinforcing the momentum of the price surge.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly during the rally, indicating rising volatility. Price remained above the 20-period SMA and near the upper band until the peak at $19.53, after which it moved closer to the midline, suggesting weakening momentum. A contraction in band width occurred just before the breakout at 20:00 ET, indicating a potential reversal setup.

Volume and Turnover Analysis

Volume spiked during the 9:15–10:15 ET session, coinciding with the highest price action and confirming strong accumulation. Notional turnover exceeded $13,000 at 09:15–10:15 ET, a sign of large-scale buying interest. A divergence appeared between price and volume during the 04:30–05:30 ET session, as price rose but volume declined, suggesting weakening conviction.

Forward Outlook and Risk

The pair appears poised for a potential pullback toward key support at $19.22–19.29 in the next 24 hours, though a retest of $19.46–19.53 could occur if bullish momentum persists. Investors should monitor for a break of the $19.22 level, which could trigger further correction.