In simple terms $MERL

1️⃣ Pressure on the supply side is high: There are several waves of unlocking in December (from December 12 to 19), with a total of 70 million coins to be released. This is too heavy a selling pressure for the current liquidity.

2️⃣ Large holders are retreating: On-chain evidence shows that 16 million coins have already been transferred to Bybit. Big players are rushing to exit, fearing a crowd on the day of unlocking.

In the current market, any rebound may just be for better selling. Early low-cost chips are looking to cash out, and in the short term, the price is likely to continue to face downward pressure and corrections.

Trying to bet on a rebound at this position has a very poor risk-reward ratio. It’s better to go with the trend, focusing on opportunities to short at high positions, and wait for this wave of bad news to be fully released before making a move.

#MERL #行情分析