Binance Coin (BNB) Price Analysis for October 27

Sellers have locally seized the initiative, according to CoinStats.

BNB/USD

Unlike other coins, the price of Binance Coin (BNB) has risen by 1.40% over the last 24 hours.

On the hourly time frame, the rate of Binance Coin (BNB) is in the middle of the local channel, gaining energy for a further move.

As the price has passed most of its daily ATR, sideways trading in the area of $225-$230 is the more likely scenario until tomorrow.

On the bigger chart, the rate of BNB is neither bullish nor bearish as the rate is stuck between the support of $219 and the resistance of $231. In this case, consolidation in that range remains the more likely scenario for the next few days.

On the weekly time frame, closure above the level of $221.3 could play a key role in terms of further price moves. However, if the candle closes with a long wick, there is a chance to see a correction below the $220 zone.

BNB is trading at $224.5 at press time.

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