Earlier today, I asked what everyone was watching. $SIREN and $ON were the first two picks. Let's see what's happening with them!
$SIREN :
If you look at its historical chart from earlier this year, it gave us that classic textbook 'crime pump' wick up near $4.80 before completely giving it all back in the candles that followed. Right now, it's quietly consolidating down in the $0.026 zone with flat MACD lines and compressed volume.
It's sitting on local support, where short-term scalpers look for a relief bounce. But given its history, I'd be careful about getting carried away by any sudden spike. If you're playing it, treat it strictly as a high-beta scalp, know your exit levels, and don't let a low-timeframe wick trick you into anticipating a trend reversal.
ON :
It staged a massive vertical rally all the way up to $0.3136, only to retrace nearly its entire move. Makes me wonder if we might have caught a nice opportunity here had I looked at it earlier. Looking at the lower timeframes, especially the 15m and 1h charts, you can see how quickly things turned around. Anyone who bought into that late breakout probably got caught on the wrong side of the move. Now, the big question is what happens from here. Can buyers step in and push for a bounce, or is there still more downside to come? The key level to watch is the $0.1850โ$0.1900 support zone. If buyers can defend it, we might see some recovery. But if that area gives way, things could get uglier.
Whatโs your play on both from here?
Let me know in the comments.
$SIREN :
If you look at its historical chart from earlier this year, it gave us that classic textbook 'crime pump' wick up near $4.80 before completely giving it all back in the candles that followed. Right now, it's quietly consolidating down in the $0.026 zone with flat MACD lines and compressed volume.
It's sitting on local support, where short-term scalpers look for a relief bounce. But given its history, I'd be careful about getting carried away by any sudden spike. If you're playing it, treat it strictly as a high-beta scalp, know your exit levels, and don't let a low-timeframe wick trick you into anticipating a trend reversal.
ON :
It staged a massive vertical rally all the way up to $0.3136, only to retrace nearly its entire move. Makes me wonder if we might have caught a nice opportunity here had I looked at it earlier. Looking at the lower timeframes, especially the 15m and 1h charts, you can see how quickly things turned around. Anyone who bought into that late breakout probably got caught on the wrong side of the move. Now, the big question is what happens from here. Can buyers step in and push for a bounce, or is there still more downside to come? The key level to watch is the $0.1850โ$0.1900 support zone. If buyers can defend it, we might see some recovery. But if that area gives way, things could get uglier.
Whatโs your play on both from here?
Let me know in the comments.
