Add as a preferred source on GoogleTesla Tokenized Contract Is Quoted Below $388 Resistance as Targets Diverge
The Binance-listed contract traded at $382.76 on Oct. 10, above four moving averages as open interest fell 5.91%.
Tesla’s Binance-listed tokenized stock contract traded below $388 resistance on Oct. 10 while remaining above its listed moving averages, as analyst targets for Tesla’s listed common stock differed by $140.
The contract was quoted at $382.76 after moving between $379.04 and $388.87. Immediate resistance was listed at $388.07, followed by stronger resistance at $393.39. Immediate support stood at $378.24, with stronger support at $373.73.
The contract traded above its seven-day simple moving average of $378.94, 20-day average of $372.63, 50-day average of $364.81 and 200-day average of $377.44.
Momentum readings were mixed. The 14-period relative strength index was 61.88, while stochastic %K stood at 85.61 against %D at 68.49. The MACD and signal lines were both 4.6597, producing a histogram reading of 0.0000, indicating stalled MACD momentum without confirming a bearish reversal.
Binance Futures volume totaled $148.62 million over 24 hours. Open interest was about $39.52 million, representing 108,574.62 contracts, after declining 5.91% during the period and adding uncertainty to the positioning data.
At 5 a.m. ET (09:00 UTC) on Oct. 10, 69.3% of Binance accounts were long and 30.7% were short. The eight-hour funding rate was 0.0000%.
Analyst views on Tesla’s listed common stock remained separated. Dan Ives reiterated an Outperform rating with a $500 target in an Oct. 9 note, while Goldman Sachs analyst Mark Delaney maintained a Neutral rating with a $360 target in an Oct. 6 note. The targets differed by $140.
The tokenized contract’s $382.76 price was $22.76 above Delaney’s target and $117.24 below Ives’ target. Those comparisons involve the contract’s quoted price and targets for Tesla’s listed common stock; the technical and derivatives figures do not represent direct trading measurements for Tesla shares.
The instrument is a Binance-listed tokenized stock contract, and its relationship to Tesla’s listed common stock is not established as one-for-one.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.