$MERL is currently looking bearish! The inability to break above 0.5 multiple times is a signal! — A fan asked me to analyze the current trend of $MERL , so Xiao Qing will briefly discuss it with everyone.

First, the technical aspect lacks upward momentum:
1️⃣ $0.5 is almost a steel top: failing even after three attempts to push through, each time approaching it, there are large holders selling off, clearly indicating that there is significant capital suppressing the price, making it temporarily impossible to break through $0.5.
2️⃣ Unable to move the market: During the breakout, the buying momentum cannot keep up, and even the main force is hesitant, resulting in a temporary lack of upward momentum.
3️⃣ Environmental Impact: Both BTC and ETH are in a correction, making it harder for MERL to rise.

Supply side is more problematic:
📅 December Unlocks: On the 12th, 15th, 16th, and 19th, nearly 70 million tokens were continuously unlocked, leading to a surge in circulation. Anticipated pressure has made buyers hesitant to enter.
💰 Early OTC low-cost chips: Those who bought at a low price before are definitely looking to sell now that the price has risen. Each rebound is an opportunity for them to offload.

Recent operation suggestions:
Entry point: Near the current price or a rebound to the 0.48-0.49 range can be used to short in batches.
Stop-loss level: firmly set above 0.505 (above the three peaks)
Target level: First look at 0.42, if it breaks down, look below 0.40
Temporarily short, set a stop loss, as the trend is weakening, do not bottom fish for now, look for opportunities around 0.2!

K-line signal:
The daily chart shows consecutive upper shadows, testing the resistance three times without success, forming a local "triple top." The volume has shrunk, and the rebound is weak; waiting for a significant volume drop below 0.45 will confirm the acceleration of the decline.

#MERL做空 # Unlocking Dump #Structure Weakening