Binance Coin (BNB) has made a remarkable comeback, rebounding sharply from its symmetrical triangle support line. This pattern forms when a token's price reaches multiple highs and lows, indicating a struggle between buyers and sellers. Currently, BNB is valued at $583.84, up 3% from the $566 support level.

According to Santiment, a cryptocurrency analytics firm, market sentiment is positive, with a weighted sentiment score of 0.607, indicating a bullish outlook. The money flow index (MFI) is also on the rise, standing at 65.61, suggesting that investors are accumulating BNB rather than selling. Additionally, the Chaikin money flow is trending upward, indicating a steady inflow of liquidity into the market.

If this positive sentiment continues, BNB's price could break through the triangle's resistance line, potentially reaching $596 and then $643. However, if the bullish forecast is invalidated, and downward pressure increases, the price could fall below the triangle and trade around $520. The significant negative funding rate of the altcoin in recent weeks adds to this possibility.

The likelihood of a price drop is increased by the predominantly negative funding rates since April 23, with BNB's funding rates falling to 0.106% on May 15, the lowest level in recent months. This was last seen in February. Despite this, the current market sentiment and momentum indicators suggest a potential price rise for BNB.