BABAUSDT Trades Near $111.60 Resistance as Open Interest Rises

Alibaba Group Holding’s BABAUSDT perpetual contract traded at $111.14 at 6 a.m. ET (10:00 UTC) on Oct. 11, while technical levels identified resistance at $111.37 and $111.60. The contract gained 0.13% over 24 hours and traded between $110.53 and $111.18 during the session. Its 50-day simple moving average stood at $111.88, above both resistance levels. Support was identified at $110.72 and $110.30, with a pivot level at $110.95. These figures apply to the derivative rather than Alibaba’s NYSE-listed equity. BABAUSDT is a USDT-margined perpetual contract that tracks the price of Alibaba’s American depositary receipts.

Source: TokenPost