Four of five moving averages for Binance’s AMDUSDT perpetual were above its quoted price despite a reported 2.46% rise over 24 hours, with only the seven-day benchmark lower.
The reported price snapshot listed the contract at 544.03 Tether (USDT). Its 24-hour low was 525.83 USDT, while the seven-day simple moving average stood at 539.69 USDT.
Among the higher benchmarks, the 20-day simple moving average stood at 591.06 USDT and the 26-period exponential moving average at 573.93 USDT. The 50-day simple average was 565.67 USDT; the 12-period exponential average was 560.81 USDT.
Binance lists Advanced Micro Devices, Inc. common stock as the underlying asset, though the contract does not convey share ownership. The exchange says the derivative trades around the clock, settles in USDT and permits leverage of up to 10x. Binance uses pricing mechanisms for hours when the underlying equity market is closed.
The analyst targets are for AMD shares. TD Cowen analyst Joshua Buchalter maintained a Buy rating and $675 target on Oct. 19. Wedbush maintained an Outperform rating and $600 target on Oct. 20. Neither target sets a price for the Binance derivative.
