Based on chart observation and real-time market data, here’s the summary for SIREN for those looking for a smart entry point:
1. Technical reading: 📊
The currency is currently in a "sideways fluctuation" zone at levels of $2.27. We observe strong support preventing a drop, but caution is required as liquidity is in a state of watchfulness.
2. The Short Squeeze Trap: 🔥
The funding rate is very negative, meaning that most traders are betting on a decline. This often serves as fuel for a "sudden upward explosion" to liquidate short positions.
💡 Trading recommendation (strict risk management):
Entry zone: Buy after a steady breakout above $2.35, or a confirmed bounce from the $2.15 area.
Intermediate targets: 🎯 $2.85 then $3.10.
Stop Loss: 🛡️ Close the candle below $2.00 (breaking this level means the current wave is over).
My question to you: Do you think that whales will liquidate their 'sell' contracts soon and we will see $3 again? Share your opinions with us! 👇
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