On the BSC, A large spike in the value of $SIREN . The last session saw the price move up to $0.7328 for a gain of +16.99%. The market capitalization is at this time $533.64M with the fully diluted valuation also $533.64M and chain liquidity up to $8.46M. It appears that the fundamentals of price value are correct for this move to continue upward.
Indicators:
The price move has pushed through the upper Bollinger Band (upper band = 0.777) after bouncing strongly off the lower band zone price (~0.46 area) creating a classic volatility expansion and breakout signal.
The stoch RSI is now above 95+ and the MA stoch RSI is at 82 meaning that the market is deep in overbought territory but the momentum continues and no divergence is evident.
Volume has steadily been increasing on the upward green candlestick formation which supports the bullish market activity.
In my opinion, this is a strong impulsive wave up with the possibility of hitting previous areas of resistance ($0.80-$0.91) if current buyers maintain their pressure. I would be waiting closely for any short pull-back to the midline price (~$0.617) for a potential support location for when profit is taken.
What do you think... Is there further upside to this movement or a cooling down period is upcoming? ๐๐
trade here $SIREN
