SIREN drop as $0.70 support fail; liquidations dey fuel di bearish break
SIREN don turn sharply comot after e rally from about $0.40 go near $1.36. For di last 24 hours, SIREN don drop over 41% to around $0.72, e cut through $1.00 and $0.90 with weak support.
Derivatives activity dey show say people force dey exit. Open interest drop about 35% while derivatives volume jump (report reach ~515%), and futures flows turn negative. CoinGlass data still show about $840.6K liquidations in 24 hours (long liquidations around $424.6K), wey help clear too much leverage but no don restore demand yet.
Technicals still bearish: RSI drop to about 36.6 from above 70, no bullish divergence, while MACD still dey for bearish crossover and histogram dey widen. CMF still positive (~0.23) but dey decline, showing capital dey leave before spot selling full show.
Traders dey watch $0.70. If e hold, e fit turn the move into a “post-rally reset.” If SIREN break $0.70, next downside area na roughly $0.50–$0.55. For rebound, $0.90 be next resistance target; to reclaim am go improve chances to return toward $1.00 and stabilize structure.
Bearish
Di combine picture dey show say SIREN drop na because of liquidation and derivatives. Open Interest don shrink as derivatives volume sharply rise and futures netflow dey negative, dey show traders dey exit aggressively, no be just dey take spot profit. CoinGlass liquidations (including big long liquidations) mean say leverage dey forcefully removed, and that fit cause further downside even after volatility cool down.
For the chart, momentum dey deteriorate: RSI don fall well below neutral with no bullish divergence, and MACD still bearish with histogram bars dey expand. Key level na $0.70; if e loss, e fit expose the $0.50–$0.55 zone, while recovery attempts go face resistance at $0.90. Short-term, this setup favour continued pressure and volatile downside; long-term stabilization depend on whether SIREN fit reclaim $0.70 first, then $0.90/$1.00 to confirm trend repair.