SIREN Token Plummets Over 70% Amid Massive Sell-Off
- Sell-Off Pressure: On-chain data reveals that approximately 17 million SIREN tokens were sold across multiple wallets in just two hours, with total sales valued at around $6.75 million, causing the token price to plummet from $0.47 to $0.13, resulting in a loss of over 70%.
- Market Control Concerns: Allegedly, market makers or controllers hold about 680 million SIREN tokens, representing at least 94% of the total supply, raising serious concerns about whether the token operates under free market conditions, potentially undermining investor confidence.
- Cyclical Trading Patterns: Analysts have noted that SIREN has experienced four distinct pump-and-dump cycles since February, where the price sharply increases, followed by high-level selling, and then tokens are repurchased at lower prices, indicating signs of market manipulation.
- Importance of On-Chain Monitoring: For tokens where the majority of the supply is controlled by a single entity, analysts emphasize that tracking on-chain accumulation and distribution movements is more critical than focusing solely on technical levels to better understand market behavior.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0114 | 0.0207 | 0.0298 | 0.0391 | 0.0482 | 0.0575 | 0.0666 |
| Fibonacci | 0.0207 | 0.0277 | 0.0321 | 0.0391 | 0.0461 | 0.0504 | 0.0575 |
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