SIREN tumbles 26.67% in a day as $0.43 support comes into focus

SIREN extended losses over the past 24 hours, sliding to about $0.49 for a daily drop of 26.67%, CoinDesk reported. Trading activity intensified despite the selloff, with volume rising 38.18% to $43.63 million—an action profile consistent with liquidation-driven exits rather than fresh dip-buying support. Derivatives positioning also cooled sharply. Open interest fell to $30.04 million, down 36.68% on the day, signaling traders were actively closing positions and leveraged capital was pulling back. The combination of falling price and shrinking open interest points to long unwinds and forced liquidations, not a wave of new shorts. Price action shows SIREN failing to sustain levels above the prior peak near $1.33, before retreating toward the key support zone around $0.43. That level has not been decisively broken, but selling continues to probe the area. Momentum indicators weakened as well: RSI dropped to 42.39, reflecting reduced buying pressure, while MACD printed a bearish crossover with the histogram turning negative. Liquidations during the volatility skewed heavily toward longs, indicating traders positioned for upside bore the brunt of the move. The sharper decline in open interest reinforces the view that leveraged long exposure is being reduced quickly. SIREN remains above the $0.43 floor for now, but rising volume alongside lower leverage and long-side liquidations keeps sentiment cautious, with the near-term market focus on whether support around $0.43 can continue to hold.