SIREN’s recent price surge hit a wall at $1.22 on the 4-hour chart after a sharp reversal. The token gained 22% on Binance perpetuals on May 8, reaching a high of $1.2965 before pulling back sharply, signaling that sellers are actively defending resistance levels. The daily chart remains bullish with all major moving averages stacked bullishly and the MACD turning positive for the first time since April, but the 4-hour timeframe tells a different story.
On the 4-hour MEXC spot chart, SIREN opened at $1.2089, spiked to $1.2207, and then reversed to close at $1.1724, a drop of over 3%. The long upper wick at $1.22 indicates strong selling pressure, absorbing the buying that drove the initial spike. The 4-hour MACD is still rising but the latest red candle is the first distribution signal since the rally began, suggesting momentum may be fading. Volume on the 4-hour was relatively light at 53,060 tokens, lower than the surge that lifted the price from $0.74 to above $1.20.
This pattern of sharp reversals is familiar for SIREN, as previously documented by crypto.news. The token hit an all-time high of around $3.61 in March and then plunged over 70% within two days due to wallet concentration concerns. The current move is the second attempt to recover from that collapse, after a base was formed in the $0.68 to $0.80 range throughout late April.
SIREN is an AI-meme token on BNB Chain, but its product roadmap—including a DEX and AI trading agent—remains incomplete. On-chain analysts have flagged supply concentration issues, with estimates suggesting 48% to 88% of tokens are held by a few wallets, a factor that has historically triggered violent sell-offs.
The broader BNB Chain ecosystem is booming for AI tokens, with over 150,000 autonomous AI agent deployments in April 2026, a 43,750% surge since January. SIREN’s AI narrative benefits from this trend, but its fundamental development lags behind. The immediate technical question is whether bulls can reclaim the $1.22 level or face further declines toward the next support.