$MERL /USDT SHORT TRADE SETUP
$MERL is currently trading at 0.35381, showing significant bearish pressure with a -17.27% decrease today. After failing to sustain levels near the 24-hour high of 0.43305, the price has been printing lower highs and lower lows on the 15m chart, indicating a dominant downtrend.
The price action suggests a "bearish continuation" as it struggles to reclaim the 0.3650 resistance zone. Despite a minor bounce from the local bottom of 0.34359, the overall sentiment remains heavy with sellers in control, targeting further liquidity pools below current support levels.
Target Points
TP1: 0.3435
TP2: 0.3310
TP3: 0.3200
Stop Loss
Set stop loss above 0.3750 to manage risk in case of a sudden trend reversal or relief rally.
Buy and Trade here on $MERL
