Why did BNB price rise today?
1. Declining bond yields boost BNB purchases. The duration of BNB and the recent rally in the market coincide with the decline in the U.S. dollar.
2. BNB enters the ascending triangle breakout phase. When the price breaks through the resistance level and rises to the maximum height of the triangle, it is expected to rise further to an upside target of around 800, an increase of about 15% from the current price level.
3. Fluctuation range. The price tests its 1.618 Fibonacci retracement line (about 708) as resistance and further pulls back to the 1.00 Fibonacci retracement line (about 630)
4. The current BNB contract holdings exceed 1.1 billion.
5. BNB links FLOKI layout, and the number of holders of the Meme coin FLOKI on the BNB Chain has recently exceeded 417,400, making it the largest Meme coin on the chain.
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