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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bnb-coin-hits-new-all-time-high" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB Coin Hits New All-Time High</a><br></p>
<p style="text-align: justify">Today, BNB Coin’s price skyrocketed to $716, surpassing its previous all-time high. This milestone was anticipated due to the ongoing efforts of BNB Coin bulls around the $635 mark. Finally, backed by the largest exchange in terms of volume, BNB Coin achieved this mid-2021 record level.</p>
<h2 id="why-is-bnb-coin-rising">Why is BNB Coin Rising?</h2>
<p style="text-align: justify">A decline in US bond yields, along with macroeconomic factors, facilitated BNB Coin’s new all-time high. As the Asian markets opened, BNB Coin peaked at $716. The US 10-year yield saw a drop from 4.63% to 4.33% within five days, correlating inversely with a 20% increase in BNB’s price. Essentially, as bond yields decreased, BNB’s price surged.</p>
<p style="text-align: justify">Further encouragement came from the Federal Reserve’s stable inflation indicator, JOLTS data, and positive employment and wage growth statistics released on Friday, creating a conducive environment for risk markets.</p>
<h2 id="bnb-coin-price-prediction">BNB Coin Price Prediction</h2>
<p style="text-align: justify">BNB Coin has recently broken out of a rising triangle formation, a bullish pattern supported by the 20 and 50-day EMAs. This formation indicates potential for upward movement, as seen when BNB’s price surpassed the triangle’s resistance. Currently, bulls are targeting the $800 mark, just $100 above the current price.</p>
<p style="text-align: justify">However, the RSI is above 70, suggesting either a new peak or a potential correction. If <a href="https://en.bitcoinhaber.net/bitcoins-ongoing-market-dynamics-analyzed" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> remains strong, BNB may consolidate around its current region, or the RSI could aim for 90, pushing the price closer to $800. Converting the $708 resistance into support is essential for continued growth.</p>
<h2 id="strategic-insights-for-investors">Strategic Insights for Investors</h2>
<p style="text-align: justify">• Monitor US bond yields for further correlations with BNB’s price movements.<br> • Pay attention to Federal Reserve data and macroeconomic indicators affecting risk markets.<br> • Watch for RSI levels and Bitcoin’s performance to gauge potential corrections or further rises.<br> • Track BNB’s ability to convert $708 resistance into a support level for <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> price increases.</p>
<p style="text-align: justify">In conclusion, BNB Coin’s ascent to $716 marks a significant achievement, driven by favorable economic conditions and technical formations. Investors are setting sights on the next milestone of $800, contingent on <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> dynamics and key support levels.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bnb-coin-hits-new-all-time-high" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB Coin Hits New All-Time High</a></h5>

BNB Coin Hits New All-Time High

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