Market Overview for Harvest Finance/Tether USDt (FARMUSDT) on 2025-09-05

• FARMUSDT traded in a tight range before surging past $28.10, capped by a high at $28.46.
• Momentum accelerated in late AM ET, with strong volume supporting the break above prior resistance.
• A bullish engulfing pattern formed as price retested a key support level near $27.55, indicating potential for a rebound.
• Volatility expanded after a consolidation period; price now sits above its 50-period moving average on the 15-min chart.
• Turnover spiked during the final 3 hours, confirming price action and aligning with increased volume.

Harvest Finance/Tether USDt (FARMUSDT) opened at $27.64 (12:00 ET-1), reached a high of $28.46, and closed at $28.10 (12:00 ET) on 2025-09-05. The 24-hour volume amounted to 10,133.47 units with a total turnover of $279,243. Price action was marked by a sharp rebound from key support and a breakout to fresh 24-hour highs, fueled by increasing volume and momentum.

Structure & Formations

Price formed a bullish engulfing pattern at the $27.55 support level, followed by a decisive break above the $28.10 psychological level. A doji appeared near $28.46 as buyers and sellers contested the high of the day. This suggests that the upward move may face resistance in that area, although the structure supports a continuation of the trend for now. A key support level appears to be forming near $27.55, which was tested twice and held, indicating strong buying interest at that level.

Moving Averages

On the 15-minute chart, the 20-period moving average has crossed above the 50-period line, signaling a potential short-term bullish trend. The 50-period line is currently at $27.87, while the 100-period line on the daily chart is at $27.69, indicating that the price is above both short- and medium-term averages. This suggests that the pair has entered a constructive phase in the near term, with positive alignment across multiple timeframes.

MACD & RSI

The MACD crossed into positive territory, with a histogram showing increasing bullish momentum. The RSI has moved into overbought territory, reaching 72 in the late AM ET session, indicating that the pair could experience a pullback in the short term. However, the fact that the RSI did not exceed 80 and MACD remains positive suggests that the underlying momentum is still intact and not yet exhausted.

Backtest Hypothesis

The described backtesting strategy involves using a combination of RSI overbought/oversold levels, bullish candlestick patterns, and volume confirmation to enter long positions on breakouts. Given the current MACD and RSI readings, a long entry triggered on the breakout above $28.10—supported by a bullish engulfing pattern and expanding volume—aligns well with the hypothesis. A stop-loss near the $27.55 level and a take-profit target at the next Fibonacci retracement (61.8% of the $27.55–$28.46 swing) at $28.25 would offer a favorable risk/reward profile.