COINUSDT Futures Rebound as Coinbase Targets Span $149 to $280

Binance’s COINUSDT perpetual futures contract rose 2.96% to $181.04 on Oct. 10, recovering from a 24-hour low of $172.00 while remaining below several moving averages.

The contract traded below the seven-day simple moving average at $182.21, the 12-day exponential moving average at $183.75, the 50-day simple moving average at $184.99 and the 26-day exponential moving average at $185.00. The 20-day simple moving average was $189.54, and a listed resistance level stood at $190.52.

Momentum indicators provided limited confirmation of a trend change. The relative strength index was 46.31, while the moving average convergence-divergence line and signal line were both -1.2521, with a zero histogram.

Analyst targets for Coinbase shares traded on Nasdaq ranged from $149 to $280, creating a $131 spread. Goldman Sachs raised its target to $244 from $219 and maintained a Buy rating. Rothschild & Co Redburn lifted its target to $214 from $198, while Jefferies raised its target to $183 from $150.

Citizens JMP analyst Devin Ryan maintained a Market Outperform rating but lowered his target to $280 from $325. Barclays raised its target to $149 from $95 and retained an Underweight rating.

Four of the five targets were above the $181.04 futures price, while the Barclays target was below it. The comparison is not a like-for-like valuation measure because the targets apply to Coinbase shares, not the COINUSDT futures contract.

Open interest stood at 99,917.31 contracts, representing approximately $17.65 million in notional value, down 2.85% over 24 hours. The eight-hour funding rate was 0.0000%, and the one-hour taker buy/sell ratio was 0.9709, based on 234 units of buy volume and 241 units of sell volume.

A Binance global-account positioning snapshot at 6 a.m. ET (10:00 UTC) showed 72.3% of accounts long and 27.7% short. The top-trader cohort showed an 80.2% long position and a 19.8% short position.

COINUSDT is a Binance perpetual futures contract. Binance separately lists Coinbase’s tokenized security under the COINB ticker, while COIN refers to Coinbase shares traded on Nasdaq.