$MERL
【MERL Bearish Logic｜Price Pressure + Unlock Risk Coexist】
Currently, the MERL price is hovering around 0.4 USD, overall in a low-level oscillation state. From a structural perspective, the rebound momentum is clearly insufficient, with prices being repeatedly blocked and falling back, and the short-term trend remains weak.
The core bearish factor lies in the supply-side pressure.
MERL has not yet completed the token release, and the current circulation only accounts for a portion of the total supply, with a significant amount of tokens still to be unlocked in the future. Unlocking means new chips entering the market, and in the absence of a significant increase in demand, it is easy to create sustained selling pressure.
From a technical perspective, highs are continually declining, and trading volume has not been effectively expanded, indicating that the market's recognition of this position is not high, and the willingness to follow through with buying is limited.
At the same time, the overall market environment remains cautious, with funds choosing to be more defensive, making it difficult to support small and medium-sized market cap tokens in breaking out into independent trends.
Comprehensive judgment:
Before the unlocking cycle ends and before a significant price breakout occurs, MERL is more suitable to be treated with caution at high levels and a bearish outlook, being wary of further declines caused by the combination of unlocking and sentiment.
Personal opinion, for communication only, does not constitute investment advice.
