The BNB price decreased, but these stimuli indicate 80 % recovery

The price of the Binance currency fell for four consecutive weeks as the broader Altcoin market lost the momentum.

Binance currency (BNBIt decreased to $ 645.05, a decrease of more than 20 % of its highest levels in December last year.

BNB series has strong basics

The BNB price declined even after the basics of the network remained strong in January. Nansen data shows that the number of titles on the BNB series increased by 40 % in the last 30 days to nearly 20 million. This makes it the third largest series of this scale after Solana (Teller), Base, and you see.

BNB series transactions jumped by 3.2 % in the last 30 days to more than 126 million, a sign that the network is working well.

More data shows that the network works well in the decentralized drainage industry, as the gap is closed with Ethereum. Dex protocols have dealt with the BNB series to more than $ 24 billion in the past seven days, while ETAREUM treated $ 19 billion. Treat 80 billion dollars In the last 30 days, just less than Ethereum $ 84 billion.

Another bullish catalyst for the BNB price is the large number of burned symbols every day and a quarter. In the past seven days, BNB was burned 363 coins with a value of more than 236,815 dollars as part of the actual time burning, which burns gas fees in the ecosystem.

The network will burn 1.6 million BNB codes of $ 1.01 billion this month. These symbols are part of the semester automatic burning mechanism, based on the price of BNB and the number of burning coins every quarter.

Technicians suggest that the price of BNB may refresh

The weekly graph shows that the BNB price is in the process of forming the handle section in the cup and the handle. C & H is a common pattern consisting of a round bottom and handle, and it is one of the most optimistic patterns on the market.

The price of BNB has remained higher than the moving averages for 50 weeks and 100 weeks, a sign that the bulls are in the market.

The cup depth is about 78 %. Measurement of the same distance from the top of the cup provides a price of $ 1,200, an increase of about 90 % of the current level. It is possible that the recovery to this goal will take time because this style may be on the weekly graph.