Binance NOW Futures Accounts Lean Long Despite Weak Momentum Signals

Binance’s futures contract labeled NOW traded at $102.30 on Nov. 7, with account data showing a long tilt as technical indicators remained weak.

The contract gained 0.17% over 24 hours and traded between $100.76 and $103.96. Immediate support was $100.72 and resistance was $103.92. Stronger support stood at $99.14, while stronger resistance was $105.54.

The 14-period relative strength index (RSI) was 26.59, an oversold reading. Stochastic %K was 4.64, and the moving average convergence divergence (MACD) reading was negative 11.0036. The contract was below its seven-day simple moving average of $105.02 and 12-day exponential moving average of $112.77.

Long positions accounted for 70.4% of Binance’s global futures accounts, compared with 29.6% short. Among top-trader accounts, 74.2% were long. These figures describe Binance futures participants and do not directly measure ServiceNow shareholder positioning.

The funding rate was 0.0000%, and open interest rose 0.30% over 24 hours to 13,336.16 contracts. Separately, Argus Research reaffirmed its Buy rating and $170 price target for ServiceNow shares on Nov. 3. That target applies to the company’s NYSE-listed shares, not the Binance futures contract.