The post Siren Coin Back Above $2.2 After Surging 116% In 24H. Will This Memecoin Reach $3.5? appeared first on Coinpedia Fintech News

On Wednesday, SIREN coin, a BSC-based memecoin, surged by more than 110% after falling from $2.5 to a low of $0.79. The fall came after an analyst on Bubblemaps revealed a possible price manipulation and dump. It was seen that SIREN supply has a wallet cluster controlling 644 million of 728 million circulating tokens (88%), and 90% of its accumulation was on a group of wallets. 

But today, SIREN reacted inversely against the market prediction of further slide down. The price is currently trading at $2.21 with trading volume at -16%. 

This altcoin is clearly under the FOMO stage among the crypto traders. Per the data on Coinpedia Markets, the trading volume was down 40% and at the time of writing is nearly 16%. 

Usually the price surge supported by rising trading volume shows its conviction and organic growth, but in the case of SIREN crypto the volume moment indicates a bearish concern in future sessions. 

Short-term and mid-term indicators turned bullish

As we see the SIREN/USDT Day Chart and 4 hour chart, this memecoins Ichimouku Indicator that shows direction of price states a neutral to bullish statement. The price trading above and below the cloud, presenting a neutral to bullish approach.

The momentum indicator has turned from negative to positive for the day at 1.5 above the zero line and is at -1.3 for the 4-hour frame with upward direction, reflecting a short-term correction or reversal. 

These pattern movements represent a stable buying pressure with holders, buyers’ sentiment still positive on the coin crossing being $3. 

Derivatives Speaks Negative for Siren. 

The Coinglass Data for Siren coins open interest continues declining at press time after falling nearly 40% in 24 hours. 

This pattern, where the assets’ open interest is declining, and the price is above 100% up, shows traders aren’t opening new ones, but closing the positions.

Also shows that no fresh capital is coming from leveraged traders; instead, the old positions are holding all the base. This is riskier for future price moments. 

Also, the negative funding rates since 14 March for SIREN coin are a big blow to new participants. Negative funding rates meant the short position holders are paying longs, indicating a bearish sentiment. 

SIREN needs a strong close above resistance. 

The live chart movement for SIREN coin prints a sold reistacne at $2.37 that is a 0.5 Fibonacci retracement and a support at $1.8. 

If the Volume turns green and one green close, do Derivates markert will change the market sentiment, beginning fresh capital. A further close below $1.8 will drive the rally near $1. 

SIREN coin will gain potential to break above the resistance at 0.5 Fibonnaci, $2.92 is the next resistance, and if social Media sentiment continues stronger, we can see $3 on the cards for Siren memecoin cryptocurrency. 

The post Bitcoin Strong Above $71K Again, With Ease In War. The US SEC Proposes New Cryptocurrency Rules. appeared first on Coinpedia Fintech News

Bitcoin on Tuesday confirmed its impact on the ongoing US-Iran War. The Flahship cryptocurrency surged nearly 4% from the $68,000 USD region to $71,000 USD, showing increased buyer interest after a 19 March close. 

Currently trading at $70,900, the Bitcoin trading volume surged 41%. This happened when Trump started talks toward a ceasefire, though there is no official confirmation. 

On the other hand, Gulf countries like Saudi Arabia and the UAE have now agreed with the United States to grant access to their Air bases. 

The impact was also seen on traditional markets. Gold moved to a record daily drop to 1.5%, and S&P futures fell 0.5%. European shares opened with 0.8% drop, Brent crude jumped 4%, and US Strength was seen at 0.3%. 

It’s now important to look at both technical and fundamental factors for BTC/USD. 

Why is BTCUSD up today? 

Bitcoin price today makes 4% on 24-hour gains, and breaks above $70,000 USD with Conviction. BTCUSD exchanged hands above the 50-day EMA $69,321.95 is a clear sign of trend continuation. 

Liquidation data showed the clearance of short positions in the opening session, removing the selling pressure. The increased volume and the metric relative volume indicator at 1.36 signal the rally isn’t weak. 

What does the BTC/USD Chart say? 

Bitcoin USD on the chart shows signs of consolidation ahead before a bull ride above the $74K zone. RSI at 45.8 shows the asset in neither the overbought nor the oversold zone. MACD leans bullish, the line is above the signal, but the histogram is positive. 

Average Directional Index (ADX) is at 23, showing a weakening trend, and the market may face consolidation soon. 

Though the price is currently trading above major EMAs, the ultimate resistance is at $74,739.36. This is confirmed by the Bollinger band Indicator that shows Upper band($74,739.36), Lower band($64,823.81), and Middle band at ($69,781.58), The BTC price is now trading near the middle band.

The ultimate next Key support and resistance can be seen at $68,500 and $72,500, respectively. 

Market Sentiments on Bitcoin Now. 

The Indicators clearly show mixed signals, but a strong hold above $70,000 for Bitcoin with an institutional trader making a string Volume profile between $70 to $72K.Short liquidations of $47 million show buyers’ confidence, while long liquidations stand at $23 million with some profit-taking activity. 

With Trump showing uncertainty, even with ease in war raises a big concern about the Volatility of Bitcoin. Investors will go for these risk assets if the volatility is certain. The war situation makes it uncertain. 

On the external side, the Spot Bitcoin ETF inflows have resumed into the market. The US SEC proposal for new crypto rules brings a lot of attention to Bitcoin again.