Recently, looking at the trend of $MERL , there is a clear sense of pressure, with bears slowly taking control of the market and the short-term risk of a decline being quite high.

In terms of price, $MERL has attempted to break the $0.5 mark three times without success. Each time it approaches this price point, the trading volume significantly increases, but buying pressure cannot hold, and active capital seems to be quite cautious. For me, this has formed a clear high-resistance zone, making it difficult to break through in the short term. Each attempt to surge is ultimately suppressed by selling pressure, indicating that those in profit around the $0.5 mark are taking their profits.

Market sentiment is also quite important; recently, BTC and ETH have both experienced short-term pullbacks, leading to an overall decline in risk appetite. Everyone is waiting and is not very willing to chase higher prices, which makes it difficult for $MERL to maintain upward momentum at critical resistance levels. Even if someone wants to push the price up, they can easily be pressured by high-level selling, making breakthroughs even more challenging.

On-chain data also reveals some clues, as many addresses began selling off to cash out when prices approached $0.5, adding to the pressure at high levels. In the short term, there is very limited room for prices to move higher. For me, these signals indicate that the market is more inclined towards volatility or a slow decline, rather than a sudden surge.

Considering these circumstances, I think that in the near future, MERL is likely to oscillate at high levels or slowly decline slightly. Those who chase higher prices face considerable risk, and if they cannot manage their positions, they can easily get trapped. Conversely, patiently observing, controlling positions, and waiting for a more reasonable entry point may be safer. Overall, the market is bearish in the short term, and everyone needs to pay more attention to the pace of the bears and not be misled by short-term rebounds.