NVDA Perpetual Contract Holds Near $231 as Momentum Signals Stay Neutral

The NVDAUSDT equity perpetual contract traded near $231 on Oct. 11 as neutral momentum readings left the market without a clear directional signal. Reported price targets associated with Simon Leopold and Joseph Moore put NVIDIA shares at $515 and $300, respectively.

The contract traded at $230.86 at 7:50 a.m. ET (11:50 UTC), up 0.14% over 24 hours. Its intraday range was $230.42 to $230.89. Immediate resistance stood at $231.03, followed by stronger resistance at $231.19. Support was at $230.56, with stronger support at $230.25.

The price was close to its 20-day simple moving average of $230.94 and the $230.72 pivot. The relative strength index was 52.63, while the moving average convergence-divergence line and signal line both stood at 2.6005, leaving the histogram at 0.0000.

Bollinger Bands covered $221.20 to $240.68, placing the price near the midpoint. The 14-day average true range was $4.64, much wider than the contract’s intraday move of less than $0.50.

Funding was 0.0000% for the eight-hour period. Open interest stood at 827,156 contracts, with an approximate notional value of $190.3 million, down 0.65% over 24 hours.

For the one-hour period ending at 5 a.m. ET (09:00 UTC), sell contracts outnumbered buy contracts 418 to 357. The taker buy/sell ratio was 0.8529. Long positions represented 60.6% of global Binance accounts and 62.7% of top-trader accounts.

Simon Leopold of Raymond James was associated with the $515 figure, while Joseph Moore of Morgan Stanley was associated with the $300 figure. Both targets apply to NVIDIA’s underlying U.S.-listed shares, not automatically to the derivative contract.

NVDAUSDT is a USDⓈ-margined equity perpetual contract that tracks NVIDIA common stock. It settles in USDT, supports leverage of up to 10 times and trades around the clock. Holding the contract is different from owning NVIDIA shares.