$MERL 's technical structure is deteriorating, and bears are gathering momentum to test the $0.2 level. From a price action perspective, $MERL 's weakness is becoming increasingly apparent. A key bearish signal is forming: the price has faced three consecutive setbacks near $0.5, with each rebound reaching a lower high, creating a clear descending resistance structure.
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$MERL 's technical structure is deteriorating, and bears are gathering momentum to test the $0.2 level. From a price action perspective, $MERL 's weakness is becoming increasingly apparent. A key bearish signal is forming: the price has faced three consecutive setbacks near $0.5, with each rebound reaching a lower high, creating a clear descending resistance structure.