$MERL
Short selling signal has been activated
$MERL has failed to break the key level of $0.5 after three attempts, with large sell orders suppressing the price every time it approaches this level, making it a difficult resistance wall to break through.
The buying momentum is insufficient, and the main players are cautious. In addition, the pullback of Bitcoin and Ethereum is suppressing risk appetite, making it even more challenging for $MERL to break through. More critically, there are still 70 million chips to be unlocked in December, and the previous failed attempts to break through were actually the main players cashing out at high levels.
Don't mistake the rebound for hope; this may just be a lifeline for low-cost holders. If it can't break $0.5, the unlocked chips will weigh heavily, leading to significant downward pressure in the short term, and short selling opportunities have become apparent.