Here’s why SIREN is likely to fall again after its latest 56% price crash

Siren ($SIREN), the AI memecoin, caught the attention of crypto enthusiasts following its recent price performance. On 14 May, while the broader crypto market was surging across the board, $SIREN’s value plunged significantly, forming a massive 56% red candle.

At the time of writing, it was still well on its downtrend on the charts, with the memecoin valued at $0.53.

That’s not all though as a massive decline in market participation was also recorded during the same period. Its trading volume, for instance, fell by over 51.43% to $56.67 million.

Thanks to this massive fall, $SIREN has erased all the gains it recorded over the last 40 days. Hence, the question – Where does $SIREN go from here?

Daily chart identifies $0.499 as final support level

According to the memecoin’s daily chart, its latest price dip pushed $SIREN to a key support level of $0.499. It has been holding this level since the beginning of April 2026.

If the memecoin fails to withstand the downward pressure and closes a daily candle below the $0.499-level, there is a strong possibility that $SIREN could witness another massive decline and potentially fall by 60% to the $0.173-level. Especially since there is no major support between $0.499 and $0.173.

However, if $SIREN manages to hold above the $0.499-level and control its bearish momentum, a potential price reversal could also occur.

At press time, the technical indicator Chaikin Money Flow (CMF) had dropped to -0.42, indicating strong selling pressure and a significant outflow of capital from the asset.

On the other hand, the Average Directional Index (ADX) had climbed to 37.80. This indicated that $SIREN flashed signs of strong directional strength as the indicator moved above the key threshold level of 25.

Even so, some analysts believe that $SIREN’s short-term bias suggested the price could fall further from here. According to them, the next downside targets would be $0.40 first, followed by $0.33578 and $0.27 if the bearish momentum continues.

Analytics and derivatives tool signal bearish view

According to Nansen, on the back of this downside move, $SIREN exchange reserves surged notably too.

In fact, data revealed that over the last 24 hours, the memecoin’s exchange reserves increased by 5.73%, indicating that long-term holders may be preparing for a sell-off as they move their assets from wallets to exchanges.

Derivatives data revealed that bears have been dominant.

In fact, data suggested that $0.499 on the lower side and $0.589 on the upper side are major liquidation levels, and intraday traders at these levels built $655,000 worth of long-leveraged positions and $1.16 million worth of short-leveraged positions over the past seven days.

At the time of writing, it appeared that the $0.499-level was close to liquidation. If the price falls below this level, nearly $655,000 worth of long positions could be liquidated.

Final Summary

• $SIREN fell by 56% while the broader crypto market recorded an upside move.
• $SIREN’s exchange reserves and intraday traders’ bets indicated that bears are dominant in the memecoin’s market.