$BNB BNB, the native cryptocurrency of the Binance exchange, is currently exhibiting bearish tendencies. Despite a recent surge, the coin's short-term technical bias is tilted towards the bears, with its price below major moving averages and in a potential short-term downtrend.

*Key Bearish Indicators:*

- *Relative Strength Index (RSI) Divergence*: A bearish divergence in the RSI and Moving Average Convergence/Divergence (MACD) on the weekly chart suggests weakening bullish momentum.

- *Ascending Triangle Pattern*: While this pattern typically signals an upcoming breakout, a drop below $635 would invalidate the bullish setup and signal a potential breakdown.

- *Negative Funding Rates*: The negative funding rate indicated by Coinglass's OI-weighted funding rate data suggests a bearish outlook, with market sentiment leaning towards short positions.

- *Bearish Breakdown*: A bearish breakdown challenging key support levels could lead to a decline in price.

*Potential Price Movement:*

If the bearish sentiment continues, BNB's price might drop to $500 or even $400 in the near term. However, some analysts predict a potential upward surge if the bullish flag pattern holds. Key support levels to watch include $635, while resistance levels are at $665-$693 and $700.¹ ²