The price of SIREN rose by 22% on Binance perpetals on May 8, hitting $1.2965 before a sharp 4H reversal that warned of bearish resistance.
Summary
- Binance’s SIREN perpetual contract rose 22.82% on May 8, touching a session high of $1.2965 with a volume of 139.23M tokens.
- The 4H spot chart on MEXC printed a long string high at $1.2207 and retreated 3.11%, indicating that traders have stepped in on the counter.
- The daily MA ribbon has fully flipped with all four SMAs stacked below the price, but the MACD at 4H is issuing the first warning flag for the latest rally.
The price of SIREN posted a 22% gain on Binance perpetals on May 8 before the 4H reversal of the analyzed resistance to the seller. The BNB Chain AI-meme token reached a daily high of $1.2965 on the Binance perpetual market with a volume of 139.23 million tokens, the highest reading since April, before retreating to close the session near $1.1626 on the daily candle.
Everyday time tells a specific story. All four moving averages in the MA ribbon – the 20, 50, 100, and 200 SMA – are stacked below the price and are moving to the outside, a classic trend setup that has regained structure after a correction.
The MACD on the daily chart is crossing positive for the first time since the peak of April, the histogram marks in the green area and the green signal line from the zero line.
Where there is conflict
The 4H spot chart on MEXC tells a different story in the short term. The price opened at $1.2089, rose to $1.2207, and returned to $1.1724 at the latest close, an internal loss of 3.11%.
The resulting candle has a clearly defined upper line at the $1.22 level, indicating that sellers have absorbed the buying pressure that drove the initial spike.
4H MACD is rising, with values at 0.0246 on the histogram and 0.1074 on the signal line, but the current red candle presents the first signal of distribution since the beginning of the May meeting. Volume in the 4H was 53.06K, materially lighter than the spike candles that moved the price from the $0.74 MA range to over $1.20 in the previous days.
As crypto.news writes, SIREN has a sharp intraday reversal pattern following a very fast move. The token reached an all-time high of around $3.61 on March 22, then fell more than 70% within 48 hours as wallet concerns caused selling pressure.
The current move is the second major recovery attempt since that fall, with the token resting in the $0.68 to $0.80 range through much of late April before breaking out again in early May.
Total supply and structure
SIREN is a BNB Chain token that markets itself as an AI-meme hybrid, with a promising DEX and an AI trading agent, both of which are listed as coming soon on its website.
As crypto.news reported, on-chain researchers have flagged the concern of the concentration of supply throughout the history of the token, with estimates ranging from 48% to 88% of the supply controlled by a small group of wallets. That turns out to be a constant driver of token violent episodes.
The broader ecosystem of BNB Chain continues to support AI-themed tokens. BNB Chain surpassed the deployment of 150,000 independent AI agents in April 2026, growing by 43,750% since January and establishing itself as the leading chain of on-chain AI activity. AI’s SIREN narrative remains within that spirit, though its promised products remain undelivered.
The immediate technical question is whether $1.22 holds the initial 4H resistance level or whether buyers can claim it again in the next session to stop the move towards the next visible area near $1.30.
