Binance Coin Price Analysis: 31 October
Binance Coin’s technical indicators hinted towards an incoming selling sentiment, with BNB seemingly primed for a downward price action on its charts.
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The Aroon Indicator for Binance Coin was slightly bearish as the Aroon Down (blue) had started to cross above the Aroon Up (orange). However, the aforementioned bearish strength was still too weak to initiate a major sell-off.
At press time, BNB’s price was seen alongside its immediate support level at $28.254, following a bounce above the previous support at $27.595
While the overall trend for BNB remains positive, southbound price action seemed imminent, with the same underlined by the Parabolic SAR’s dotted lines being found above the price candles.
Learn more about the analysis here. (https://eng.ambcrypto.com/binance-coin-cosmos-dash-price-analysis-31-october/)