MERL, which side are you on this wave: panic release or continued weakness?
MERL has dropped -16.79% in the past 24 hours, with a deep pullback. Right now, it's not about how much it's dropped, but whether the selling pressure is nearing its end. Current price is about 0.02651, with a 24h trading volume of approximately 6.8706 million. The increased selling volume feels more like concentrated panic selling.
Reference indicators: 30m Super Trend at 0.025665, with the current price above it, indicating a trend continuation structure; 30m KDJ at 16.94/24.79/1.23, showing short-term fluctuations are a bit overheated; conversely, if the J value pulls back weakly, short-term volatility might easily turn weak again.
I'll break down the assessment into two tickets: one ticket to see if the trend support level can be reclaimed, and another ticket to check if the short-term pullback forms a second confirmation. Both tickets need to be stable for it to be considered a recovery; if only one ticket is stable, then we’re still in a range.
Drop your thoughts in the comments: do you see continuation or a pullback?
#MERL #Alert
MERL has dropped -16.79% in the past 24 hours, with a deep pullback. Right now, it's not about how much it's dropped, but whether the selling pressure is nearing its end. Current price is about 0.02651, with a 24h trading volume of approximately 6.8706 million. The increased selling volume feels more like concentrated panic selling.
Reference indicators: 30m Super Trend at 0.025665, with the current price above it, indicating a trend continuation structure; 30m KDJ at 16.94/24.79/1.23, showing short-term fluctuations are a bit overheated; conversely, if the J value pulls back weakly, short-term volatility might easily turn weak again.
I'll break down the assessment into two tickets: one ticket to see if the trend support level can be reclaimed, and another ticket to check if the short-term pullback forms a second confirmation. Both tickets need to be stable for it to be considered a recovery; if only one ticket is stable, then we’re still in a range.
Drop your thoughts in the comments: do you see continuation or a pullback?
#MERL #Alert