SIREN token jumps 22% on Binance before a short-term sell-off signals resistance at $1.22

SIREN token surged 22% on Binance perpetuals on May 8, reaching a high of $1.2965 before reversing sharply to close near $1.16. The daily moving averages show a strong bullish trend, but a 4-hour chart reveals seller resistance at $1.22, causing a pullback. SIREN, an AI-meme token on BNB Chain, faces supply concentration risks but benefits from growing AI activity on the chain. The key question is whether $1.22 resistance holds or if buyers push higher toward $1.30 next.