To be honest, the $MERL really can't be stubborn right now; the bearish pattern has already been clearly indicated.

I've been watching the position at 0.5 for a long time. Three strong attempts have been met with heavy sell-offs, and the volume stagnation indicates that the selling pressure above is simply not something retail investors can handle. This technical three-top resistance essentially declares the exhaustion of short-term bullish momentum.

Moreover, with the unlocking flood of 70 million tokens in mid to late December, if it were you, would you pull the lever against the wind at this time? On-chain funds have already started reallocating to avoid risks, and this is the most direct signal. Avoiding this supply cycle is more meaningful than stubbornly holding on.

Don't talk about faith at this position; making money means going with the trend. Once this wave of adjustment is completely cleared, we can see when to re-enter.

For those wanting to enter the market, it is advisable to place orders in batches, don’t go all in at once.