Let's talk about the situation of $MERL . Don't just focus on the decline; look at where it has dropped from.

$0.5 has become the "iron top" in the past few weeks. The bulls have actually attempted to break through the $0.5 mark three times, but each time the result was "increased volume with stagnation".

This means there is a very strong structural resistance at this position. The main funds have tested it three times and found that the selling pressure above is too heavy to overcome, so now they not only stopped the attack but have begun to retreat and defend.

The sentiment is weakening. In the context of a market correction, the tolerance for weak tokens is very low. MERL's current trend is very typical: weak rebounds and continuous downward sliding.

This is a sign of exhausted buying power. The market is now in a "defensive mode," and no one is willing to help others break even when the resistance above is so heavy.