There are two perspectives on how the price of $BULL is determined.
Fundamental Value: This approach looks at on-chain metrics, project performance, and financial indicators of $BULL. Over the long term, factors like supply and demand, tokenomics, use cases, project roadmap, and relevant regulations or governance can all affect $BULL's value.
Price Action: This perspective primarily involves using technical analysis tools like chart patterns, MACD, RSI, and Bollinger Bands to forecast price movements of $BULL based on past trends, based on the principle that 'history tends to repeat itself.' Price action of $BULL is also affected by news, announcements, and the general sentiment of the community.
While long-term investors focus on the fundamentals, short-term traders typically rely on technical indicators. Both can influence the price of $BULL.