Today let's talk about $MERL

On the technical side, to put it simply: the barrier at $0.5 is currently impossible to pass, and the more it tries, the weaker it gets, with signs increasingly favoring the bears.

In the past few weeks, MERL has touched around $0.5 three times, and each time it nearly reaches it before turning back, with the closing session consistently showing long upper shadows, a typical case of 'smash at the point'.

What's worse is that during these three attempts, although the trading volume appears to have increased, it is mostly selling pressure, and the buying side simply can't hold up. This reflects a situation where 'some want to run, but no one dares to catch'. The resistance level has been smashed down hard.

The most recent rebound even showed a clear divergence between price and volume: the price barely crept up a bit, while the trading volume actually shrank, indicating that the funds pushing the price up are already feeling hesitant and do not dare to put real money into it. The sustainability of the rise is almost zero.

Looking at the broader environment, BTC and ETH have also been fluctuating at high levels and retracing downwards these days. The overall risk appetite for the sector is weak, and funds are more inclined to realize profits. For a mid-cap like MERL to break through $0.5 in such an atmosphere is quite challenging.

Therefore, the current technical formation is leaning towards the bearish side, with almost no space above $0.5 in the short term, unless one day it can stabilize with a significant volume surge; otherwise, each rebound is likely to follow the rhythm of 'smash at the point'.

Personally, I believe that until we see a real breakthrough signal, the risk of chasing highs is too great, and it is better to short than to go long.