Why did the price of SIREN suddenly increase by over 150%, and will this trend continue?

Siren (SIREN), an AI Token for DeFi on the BNB Chain, surged 156% on March 22, 2024, to an All-Time-High of $2.57. Two on-chain signals explain this surge and suggest the next direction for the price.

This surge is part of a stronger trend, with SIREN having risen over 630% in the last 30 days. This is due to renewed interest in AI-driven Token and the launch of perpetual Futures Contract , which have fueled buying pressure through a Short squeeze.

Overbought conditions at every previous peak of SIREN

The Money Flow Index (MFI) is currently at 82.96 — well above the 80 threshold, which is XEM an overbought area. The current region on the indicator is circled to highlight the signal.

Importantly, the chart shows technical black lines marking three previous reversal points: February 7, 2024, February 27, 2024, and March 15, 2024. At each of these points, the MFI indicator surged before the price corrected downwards . In all three instances, the sharp increase in the MFI signaled a correction lasting several days shortly afterward.

The current MFI index at 82.96 on March 22, 2024, has a similar pattern to the previous three peaks — a surge in money inflow coinciding with the price peaking and the appearance of large candlestick bodies — raising the question of whether this is a fourth reversal point or the beginning of a new, sustained uptrend.

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The Chaikin Money Flow (CMF) indicator tells a similar story. On the CMF, a light blue trend line connects the peak near 0.35 on March 20, 2024, to the current level of 0.14 on March 22, 2024. While the price continuously sets new highs, the CMF forms progressively lower peaks—a typical sign of bearish divergence.

The CMF at 0.14 remains positive, indicating that buying pressure still outweighs selling pressure. However, the weakening money flow during the peak of the price surge suggests that the price increase required less and less market entry with each candlestick — the actual money flow is no longer as abundant as at the beginning of the rally.

This indicates weakening buying confidence rather than a strong increase in demand. When a bearish divergence appears on the CMF while the price is rising parabolically, the market is often prone to a sharp reversal once the upward momentum has exhausted itself.

Siren's price reached $2.50.

The 156% increase in SIREN's price over the past 24 hours is primarily driven by speculation, with no data suggesting strong capital inflows supporting this surge .

On the Fibonacci extension chart, the 1.786 level is located at $2.07 — this is the first support zone if the price corrects, after the price has risen to $2.57, breaking out of the 2.0 extension zone at $2.29.

If the $2.07 level doesn't hold, the price could fall sharply to around $1.77, or even $1.50.

The Coinglass liquidation map shows a total of $22.34 million in Longing positions at risk of liquidation around the $0.65 level.

Between $1.31 and $0.65, there is virtually no “ Longing liquidation support”—meaning that if the price breaks below $1.31, the market is likely to fall rapidly to this area without clear support.

On the other hand, the MFI at 82.96, along with the previous CMF divergence, are signals that foreshadow major corrections in the Token 's history . If it holds above $2.07, the bullish structure remains intact.

If this zone is broken, the downside target will be $1.50, while the liquidation map suggests a potential drop to $0.65.