$BNB BNB traders use a wide range of trading signals and technical indicators to predict the trajectory of a price.

Although not all methods are necessary to accurately forecast the direction of the market, some key indicators carry more weight. Identifying BNB's support and resistance levels gives traders insight into market supply and demand, while helping to determine trend reversals.

Additionally, chart patterns are also widely used by traders to form trend lines that help predict the next candlestick movement.

Various indicators, such as the RSI, Moving Averages, and MACD, can be used to determine the direction of the long-term trend and attempt to forecast the future price movement.

Fundamental Analysis of BNB

Fundamental analysis aims to assess the intrinsic value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are employed to analyze and predict potential developments in the future price of that asset.

In the case of BNB, the most direct way to conduct fundamental analysis is to observe supply and demand dynamics. Additionally, it is possible to observe the market capitalization value (R$520.20 billion) and the circulating supply (145.89 million) to arrive at reasonable price assumptions for the future. On the demand side, it is possible to examine on-chain data related to the number of active and new addresses, and transaction count.

What drives the price of BNB?

There are a number of variables in the cryptocurrency market that can drive the price of BNB up or down. The main force behind the asset value of BNB is market supply and demand. Whether the demand for more BNB increases or decreases largely depends on the growing adoption.

Furthermore, significant events, such as protocol updates or hard forks, can also play a significant role in the price of $BNB .