$MERL / USDT is showing strong bearish momentum right now – down -13.91% with price at ~0.1367! 📉
The chart screams oversold: RSI(6) at 17.03, RSI(14) at 25.02 – deeply oversold territory. Stochastic is also extremely low (K:17.53, D:28.26, J negative). Heavy selling pressure visible in the volume spikes on the drop, but L/S Ratio at 0.67 (more shorts at 59.83%), L/S Position ~1.04 balanced, and Accumulation slightly favoring buyers at 54.89%. MACD is negative but histogram bars are small – potential exhaustion?
Price has broken below key supports, testing lows around 0.1311, with Bollinger Bands squeezed lower. Recent sharp dump from highs ~0.1649 in 24h.
TRADE ALERT: SHORT $MERL / USDT NOW!
Entry: around current ~0.1367
Take Profit: 0.1250 (strong support zone, ~8-9% gain)
Stop Loss: 0.1450 (above recent resistance to limit risk, ~6% stop)
Risk-reward looks solid in this oversold dump – could bounce hard if reversal kicks in, but momentum favors bears short-term. DYOR & manage risk!
Merlin Chain $MERL holders – time to act or hodl through the storm? Let's see if this BTC L2 gem rebounds soon! 🚀🐻
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