FARM / USD - Harvest Finance: High Risk / High Reward Potential
This is the two week Heiken Ashi candle chart for Harvest Finance, crypto-ticker FARM. FARM has been sitting in a range between ~57-100 and ~279-300ish since October 2020.
Two week Heiken Ashi chart shows a clear inverted HS pattern forming. Our right shoulder's highs and lows followed new listings on both Binance and Coinbase, this is the Uniswap chart which has the most history I could find. Marketcap has been hovering around 100 million for a while, circulating supply is 665k, development on the project has made good progress and has some unique features.
The point here is that FARM has never really gotten out of its range. Even despite having seen a near 300% jump overnight after seeing sub 100 dollars back in mid to late December, we've remained between 57 & 300 on our weekly candle closes. Recently, we made a move back to the top of the range (around 279) and then fell back to the middle near 150. If this move continues and we can break up and out of this range, holding above 279-300, we'll complete our HSi and FARM starts to have massive potential. We also could see a golden cross on the Daily 50/200 MAs following another significant move up.
I've indicated 3 potential target ranges should this occur:
- Conservative: Purple TPs 1 and 2
- Normal: Yellow TPs 1 and 2
- Aggressive: Pink TPs 1 and 2
Farm's opening week highs on Uniswap ranged between 1375 and 5194. So, there's also potential it could move significantly higher than the targets listed above, but I'd suggest that we need to see us get and stay comfortably above these first before considering that possibility.
The title says this has high risk / high reward potential. High risk because it's obviously crypto, but especially so with its low cap / low supply. It could just as easily break down out of its range and lose most of its value.
Be safe, good luck, thanks for taking the time to read!
Two week Heiken Ashi chart shows a clear inverted HS pattern forming. Our right shoulder's highs and lows followed new listings on both Binance and Coinbase, this is the Uniswap chart which has the most history I could find. Marketcap has been hovering around 100 million for a while, circulating supply is 665k, development on the project has made good progress and has some unique features.
The point here is that FARM has never really gotten out of its range. Even despite having seen a near 300% jump overnight after seeing sub 100 dollars back in mid to late December, we've remained between 57 & 300 on our weekly candle closes. Recently, we made a move back to the top of the range (around 279) and then fell back to the middle near 150. If this move continues and we can break up and out of this range, holding above 279-300, we'll complete our HSi and FARM starts to have massive potential. We also could see a golden cross on the Daily 50/200 MAs following another significant move up.
I've indicated 3 potential target ranges should this occur:
- Conservative: Purple TPs 1 and 2
- Normal: Yellow TPs 1 and 2
- Aggressive: Pink TPs 1 and 2
Farm's opening week highs on Uniswap ranged between 1375 and 5194. So, there's also potential it could move significantly higher than the targets listed above, but I'd suggest that we need to see us get and stay comfortably above these first before considering that possibility.
The title says this has high risk / high reward potential. High risk because it's obviously crypto, but especially so with its low cap / low supply. It could just as easily break down out of its range and lose most of its value.
Be safe, good luck, thanks for taking the time to read!
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