$MERL Price Briefing: Three Attempts to Break the Key Resistance Level of $0.50 Failed

Key Information: The recent price performance of $MERL shows that the $0.50 area has established itself as a strong technical resistance. In the past few weeks of trading, the token price has attempted to rally three times but has faced significant selling pressure and failed to hold.

• Resistance Analysis: The $0.50 position has concentrated selling pressure, representing the biggest structural challenge currently facing bulls. The increase in trading volume accompanied by price pullbacks suggests insufficient buying momentum at this critical price level.

• Market Environment: With BTC and ETH experiencing pullbacks, the overall market risk sentiment has weakened, making it more difficult for $MERL to break through.

• Fund Flows: On-chain data shows that around $0.50, some short-term or early holders are taking profits, and this arbitrage activity continues to exert pressure on the price.

Short-Term Outlook: In the absence of external positive news and stronger buying pressure, it is expected to continue adjusting within the current range before digesting the selling pressure near $0.50.