Here’s why SIREN is likely to fall again after its latest 56% price crash

Siren (SIREN), the AI memecoin, caught the attention of crypto enthusiasts following its recent price performance. On 14 May, while the broader crypto market was surging across the board, SIREN's value plunged significantly, forming a massive 56% red candle. At the time of writing, it was still well on its downtrend on the charts, with the memecoin valued at $0.53. That's not all though as a massive decline in market participation was also recorded during the same period. Its trading volume, for instance, fell by over 51.43% to $56.67 million.  Thanks to this massive fall, SIREN has erased all the gains it recorded over the last 40 days. Hence, the question - Where does SIREN go from here? Daily chart identifies $0.499 as final support level  According to the memecoin's daily chart, its latest price dip pushed SIREN to a key support level of $0.499. It has been holding this level since the beginning of April 2026. If the memecoin fails to withstand the downward pressure and closes a daily candle below the $0.499-level, there is a strong possibility that SIREN could witness another massive decline and potentially fall by 60% to the $0.173-level. Especially since there is no major support between $0.499 and $0.173. However, if SIREN manages to hold above the $0.499-level and control its bearish momentum, a potential price reversal could also occur.  At press time, the technical indicator Chaikin Money Flow (CMF) had dropped to -0.42, indicating strong selling pressure and a significant outflow of capital from the asset. On the other hand, the Average Directional Index (ADX) had climbed to 37.80. This indicated that SIREN flashed signs of strong directional strength as the indicator moved above the key threshold level of 25. Even so, some analysts believe that SIREN’s short-term bias suggested the price could fall further from here. According to them, the next downside targets would be $0.40 first, followed by $0.33578 and $0.27 if the bearish momentum continues. Analytics and derivatives tool signal bearish view  According to Nansen, on the back of this downside move, SIREN exchange reserves surged notably too. In fact, data revealed that over the last 24 hours, the memecoin’s exchange reserves increased by 5.73%, indicating that long-term holders may be preparing for a sell-off as they move their assets from wallets to exchanges. Derivatives data revealed that bears have been dominant. In fact, data suggested that $0.499 on the lower side and $0.589 on the upper side are major liquidation levels, and intraday traders at these levels built $655,000 worth of long-leveraged positions and $1.16 million worth of short-leveraged positions over the past seven days. At the time of writing, it appeared that the $0.499-level was close to liquidation. If the price falls below this level, nearly $655,000 worth of long positions could be liquidated. Final Summary SIREN fell by 56% while the broader crypto market recorded an upside move. SIREN’s exchange reserves and intraday traders’ bets indicated that bears are dominant in the memecoin's market.