🚨 $SIREN Strong Uptrend, but showing signs of short-term exhaustion and potential pullback.
The massive volume spike (83.2M) on the candle that hit 1.88 (the 24H high) followed by a series of candles with lower highs and relatively lower volumes indicates distribution near the top. The most recent 30-minute candles show price struggling to push higher from the 1.39-1.41 zone, suggesting selling pressure. The long upper wick on the 1.88 candle is a strong rejection signal.
Decision: Consider Shorting on Weakness. The primary uptrend is undeniable, but the confluence of extreme RSI, price outside Bollinger Band, bearish KDJ crossover, and clear price rejection at the highs presents a high-probability setup for a short-term corrective move.
Entry short $SIREN : On a break and close below the 1.385 (recent minor support). Alternatively, on a rejection from a retest of the 1.42-1.45 zone.
Stop-Loss: : just above the most recent swing high 1.495
Target Price $SIREN :
• First Target: 1.326 (Bollinger Upper Band)
• Second Target: 1.20 (psychological level & near MA5).
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