SIREN is absorbing one of the most violent corrections in the altcoin market, with a 67% collapse following the breakdown of a critical support level. Bulls are backed into a corner, forced to defend extreme price zones to avoid a total capitulation. The question is now straightforward: is there still a sustainable floor?
A Support Breakdown That Opens the Floodgates
The SIREN correction leaves no ambiguity about the market structure: the token has lost a major support level that had been acting as a floor for several weeks. This breakdown triggered a cascade of liquidations, amplifying the decline well beyond the levels anticipated by traders in long positions.
On the daily chart, the price structure is now clearly bearish. Successive lower highs and lower lows are firmly embedded within a pronounced downtrend, with no visible reversal signal in the near term. The volume accompanying the sell-off confirms dominant selling pressure — no meaningful recovery rally has managed to establish itself since the slide began.
The next identifiable support level sits at recent all-time lows. If that floor gives way in turn, SIREN would enter bearish price discovery territory, with no structured demand zone to absorb selling. Bulls absolutely must defend this threshold if they hope to stabilize the situation.
RSI and MACD Confirm Selling Pressure
Technical indicators reinforce the bearish picture. The daily RSI is deep in oversold territory, a signal that, in the context of a strong downtrend, does not guarantee an immediate bounce. Oversold conditions can persist across multiple sessions before a bullish retracement materializes — and that is precisely what current holders are dreading.
The MACD, meanwhile, is displaying a clear bearish crossover, with both lines sitting well below the neutral zone. The histogram continues to expand on the negative side, signaling that bearish momentum remains intact. No bullish divergence is detectable at this stage, which rules out an upside breakout scenario in the immediate term.
For a credible recovery signal to emerge, traders would need to see a bullish MACD crossover combined with the RSI climbing back above 35. Those conditions are not yet in place, keeping the pressure firmly on bulls in the short term.
Bullish vs. Bearish Scenario: Where Is SIREN Headed?
The bearish scenario remains dominant as long as SIREN fails to reclaim its former support, which has now flipped into resistance. Any retracement attempt toward that zone could be swiftly rejected, confirming the classic support/resistance flip and paving the way for new lows. In that case, an extension of the correction toward lower levels remains the path of least resistance.
The bullish scenario, while a minority view, does exist. It requires a high-volume reclaim above the key resistance level, accompanied by a reversal in the indicators. If bulls manage to trigger a convincing breakout, a recovery rally back toward pre-crash price zones becomes plausible. That scenario, however, demands a confluence of signals that the market is not yet providing.
In the short term, SIREN remains under maximum pressure. The distance from its ATH has widened considerably, and any hope of a recovery bull run hinges on a radical shift in sentiment across the broader altcoin segment. Traders should closely monitor volume and daily closing levels to anticipate the next directional move.
