Binance’s AMDUSDT Contract Gains 2.46% but Trails Four Moving Averages

Binance’s AMDUSDT perpetual contract rose 2.46% over 24 hours to $544.03, rebounding from $525.83 while remaining below four of its listed moving averages.

The contract was above its seven-day simple moving average at $539.69. It remained below the 20-day SMA at $591.06, the 50-day SMA at $565.67, the 12-period exponential moving average at $560.81 and the 26-period EMA at $573.93.

Binance’s AMDUSDT perpetual contract tracks Advanced Micro Devices (AMD) common stock. It is a separate derivative, not ownership of AMD shares. The contract settles in USDT, trades around the clock and has maximum leverage of 10x.

Wedbush reiterated an Outperform rating and a $600 price target for AMD shares on Oct. 20. TD Cowen analyst Joshua Buchalter reiterated a Buy rating and a $675 target on Oct. 19. Both targets concern the listed shares, not the Binance contract.