SIREN has rebounded significantly after a sharp drop. Previously, a concentrated sell-off by whales had pushed the price down to around $0.07, but as selling pressure eased, market volatility turned upward again, and the token price rose above $0.10.

A rebound of over 50% in 24 hours

According to CoinMarketCap data, SIREN has risen 54% in the past 24 hours and 36% in the past hour. The price briefly reached $0.112 during the session, and at the time of writing, it was trading at approximately $0.109, indicating that short-term buying has resumed after the sharp drop.

However, prices are currently still below major moving averages. Looking at the overall structure, bearish pressure has not completely subsided; this rally is more of a correction after a sharp drop than a trend reversal.

The net cash flow from spot trading remains negative.

The data in the article shows that SIREN has seen a continuous outflow of funds from the exchange over the past three days. In the past day, approximately $623,000 flowed out of the spot market, while approximately $496,000 flowed in, resulting in a net outflow of $126,000.

Net outflows in the spot market typically indicate that buyers are withdrawing tokens from trading platforms, easing short-term selling pressure. This aligns with the buy-on-dips strategy and suggests that some funds are rebuilding positions at lower levels.

Binance's long positions are clearly dominant.

Trading sentiment has also improved. The article mentions that the average long/short ratio on Binance is about 4, the long/short ratio of top trading accounts is 4.6, and the long/short ratio of top trading positions is 4.2, indicating that active traders as a whole still lean towards long positions.

However, judging from momentum indicators, SIREN's Relative Strength Index (RSI) is still around 33, remaining in a weak range. If the price falls below $0.10 again, the market may continue to test lower support levels; if the $0.07 level holds, the price may have a chance to retest $0.14.