Release: 2024/12/10 23:24 Reading: 389
SPX6900 Price Soars 8% on Binance Futures' Perpetual Contracts Launch
The SPX6900 price has surged 8% in the last 24 hours, trading at $0.7046 as of 7:05 a.m. EST. This surge follows Binance Futures' announcement of four new USD-margined perpetual contracts, including SPXUSDT (SPX6900), all offering up to 75x leverage.
Binance Futures Launches New Perpetual Contracts
Binance Futures launched the following USD-margined perpetual contracts on December 10, 2024:
These contracts are designed for both conservative and aggressive trading strategies, with a funding rate of +2.00% / -2.00% and settlements every four hours.
SPX6900 Price Rebound
The SPX6900 price shows bullish momentum on the 15-minute timeframe, recovering from a support level of $0.6000. The current price is $0.6986, near a resistance zone at $0.7000. The 50-period moving average (MA) is crossed at $0.6320, and the price is trading above the 200-period MA at $0.6651.
The MACD indicator is bullish, with the MACD line above the signal line and positive histogram bars. However, the RSI is at 64.82, indicating overbought conditions.
Trading Strategy
If the price breaks above the $0.7000 resistance, it could rally towards $0.7300 or higher. A rejection at $0.7000 might lead to a pullback towards the 200-MA at $0.6651 or the 50-MA at $0.6320.
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