Binance COINUSDT Perpetual Contract Trades Below Key Averages at $181.05

Binance’s COINUSDT perpetual contract stood at $181.05 at approximately 6 a.m. ET (10:00 UTC) on Oct. 11, up 0.03% over 24 hours, while its price remained below several near-term averages.

The contract moved between $180.35 and $181.59 during the 24-hour period. Its seven-day simple moving average was $181.39, compared with $188.49 for the 20-day average and $184.91 for the 50-day average.

The averages did not form a conventional descending bearish sequence. Ranked from lowest to highest, they were the seven-day, 50-day and 20-day measures. The 200-day average stood at $175.45, about $5.60 below the contract price.

Momentum indicators offered limited confirmation of a clear direction. The 14-period relative strength index was 46.32. The moving average convergence-divergence line and signal line were both -1.3707, leaving the histogram at 0.0000.

Binance’s eight-hour funding rate was 0.0000%. The one-hour taker buy/sell ratio was 0.5938, with 349 units of buying volume and 587 units of selling volume.

Technical levels placed immediate support at $180.40 and stronger support at $179.76. Immediate resistance was identified at $181.64, followed by stronger resistance at $182.24.

Analyst targets for Coinbase’s Nasdaq-listed shares ranged from $187 to $280. Compass Point’s target was $187, Morgan Stanley’s was $258 and Citizens JMP’s was $280. Morgan Stanley raised its target from $250 while keeping an Equal Weight rating. Citizens JMP lowered its target from $325 while retaining a Market Outperform rating.

The equity targets do not provide like-for-like forecasts for the separately traded perpetual contract.