Despite the immense rampage the team has been on, Harvest Finance is still only ranked in the 293rd position as it holds a ~$150million market cap value. On top of that the Total Value Locked has continued to climb and it is still holding above $537 million - that’s almost 4 times Market Cap value - giving it a Market Cap/TVL ratio of like 0.27. 

Source: Harvest Finance

To put that into perspective, the Market Cap/TVL ratio of well-known projects like Yearn Finance is over double that of Harvest Finance at 0.68.

As mentioned, the team continues to fire out new farming strategies on their autonomous hedge fund. With the incoming strategies on the horizon, the TVL can be expected to surge well past the February highs of $550.

Coming up next: Binance Smart Chain Strategies Set To Take TVL To ATHs

The primary reason I say this is because the team is about to roll out a Binance Smart Chain Integration. Unless you have been living under a rock, you must know that Binance Smart Chain has taken the market by storm over the past couple of months and has even helped Binance Coin $BNB to surge into the 3rd ranked position in terms of market cap value. 

That’s right, right behind Bitcoin and Ethereum!

At the start of February, the Total Value Locked on the entire BSC was just at $1 million. Over the two months, that TVL has managed to surge to the current $21.937 BILLION level;

Source: DeFi Station

Yes, the hype behind BSC is real, and Harvest Finance is not willing to miss out!

The team has planned to add 12 new farming strategies to its protocol, all based on the Binance Smart Chain. It seems that the integration is literally just around the corner;

Once this integration goes live, we can expect some of the TVL that is already on BSC to start flooding into the Harvest Finance TVL as farmers begin to take advantage of the high APY farming strategies they are known to provide.

Harvest Finance Sits With Top DeFi Projects Inside The DeFi Pulse Index

In other bullish news to take $FARM to new heights, it seems that Harvest Finance is starting to gain some real prominence across the industry with the recent announcement that they have been added as one of the assets in the DeFi Pulse Index;

For those unaware, the DPI is a capitalization-weighted index that tracks the performance of DeFi protocols across the market. Users can just buy the DPI token and be exposed to the top names in the DeFi Industry with just one token.   

There are currently 14 different assets in the DPI, and $FARM is now sitting pretty next to top-ranked DeFi Projects such as $UNI, $AAVE, $SNX, $MKR, $SUSHI, $COMP, and $YFI.

Even with all this crazy bullish news, it seems that we are still very early to the party. The Daily Active Addresses statistic from Santiment shows that there hasn’t been too much of a surge in network activity recently - indicating that the latest string of news hasn’t really caught too much attention just yet;

Source: Santiment

However, it is obvious that people are still talking about $FARM when we look at the Social Volume statistic from Santiment. It shows that the Social Volume is slowly starting to tick higher, indicating that more people are talking about $FARM much more consistently than ever before;

With all that being said, I’m 100% sure that $FARM is set for new heights very soon. In fact, although I might be wrong, I am fairly sure that the foundation has already been laid to let $FARM boom to new heights during April 2021.

Let me show you some charts.

First up is the daily chart. 

$FARM started the year out relatively quietly. It only started to really surge toward the end of January when it broke above $150 and continued to climb to the new ATH price in February at $458 (ignoring the strange huge Uniswap Spikes).

After hitting the ATH toward the middle of February, $FARM started to head lower. It did try and recover at the beginning of March but it wasn’t really able to overcome $280 and ended up dropping lower until solid support was found toward mid-March at $145, provided by the .786 Fib Retracement level.

Once $FARM found this support, it rebounded and started to push higher again.

Over the past couple of days, $FARM started to knock on the door of some very strong resistance. This resistance is at $307, and it’s provided by a bearish .618 Fib Retracement level - what we call the Golden Ratio amongst TA circles.

It’s a key level, and it will be difficult to overcome. However, once $FARM breaks this resistance, it’s off to the races for the coin, and it’s likely not going to stop until it sets new ATH prices.

Above $307, resistance is expected at;

• $354 (bearish .786 Fib)
• $381 (bearish .886 Fib)
• $413 (Feb High-Day Closing Pirce)
• and $458 (ATH price). 

Beyond the ATH, resistance is found at;

• $500
• $520
• $550
• $561 (1.272 Fib Extension)
• $600
• $614 (1.414 Fib Extension)
• $650
• And $688 (1.618 Fib Extension)

There could be some turbulence before the bearish .618 Fib is broken at $307. If $FARM heads lower before it breaks, expect support at;

• $250 (.382 Fib)
• $228 (.5 Fib)
• $205 (.618 Fib)
• $145 (March Support).

Let me quickly show something I’m also following on the shorter-term chart;

It’s a bullish wedge, and $FARM has been trapped inside it since March 24th. The exciting thing is we are starting to reach the tail end of the wedge where we can expect a breakout, and the direction it breaks is likely to provide us clues about the next direction for the market.