SIREN Slumps as $0.70 Support Fails; Liquidations Fuel Bearish Break

Published: 2026-06-10 10:03:49 |

SIREN is reversing sharply after a rally from about $0.40 to a local high near $1.36. In the last 24 hours, SIREN has fallen over 41% to around $0.72, cutting through $1.00 and $0.90 with weak support. Derivatives activity points to forced exits. Open interest dropped about 35% while derivatives volume jumped (reported up to ~515%), and futures flows turned negative. CoinGlass data also shows roughly $840.6K liquidations in 24 hours (with long liquidations ~ $424.6K), helping clear excessive leverage but not yet restoring demand. Technicals remain bearish: RSI slid to about 36.6 from above 70, with no bullish divergence, while MACD stays in a bearish crossover and the histogram widens. CMF is still positive (~0.23) but declining, suggesting capital is leaving before spot selling fully appears. Traders are watching $0.70. A hold could turn the move into a “post-rally reset.” If SIREN breaks $0.70, the next downside area flagged is roughly $0.50–$0.55. For a rebound, $0.90 is the next resistance target; reclaiming it would improve odds of returning toward $1.00 and stabilizing structure.

Bearish

The combined coverage frames SIREN’s drop as liquidation- and derivatives-driven. OI contraction alongside a sharp rise in derivatives volume and negative futures netflow suggests traders are exiting aggressively, not merely taking profits on spot. CoinGlass liquidations (including large long liquidations) imply leverage is being forcefully removed, which can cause further downside even after volatility cools. On the chart, momentum is deteriorating: RSI has fallen far below neutral with no bullish divergence, and MACD remains bearish with expanding histogram bars. The key level is $0.70; losing it likely exposes the $0.50–$0.55 zone, while recovery attempts face resistance at $0.90. Short-term, this setup favors continued pressure and volatile downside; long-term stabilization depends on whether SIREN can reclaim $0.70 first, then $0.90/$1.00 to confirm trend repair.