Three attempts to break through $0.5 failed, should $MERL be worried now? 📉
As a trader who has been tracking $MERL for over a month, this recent trend really makes one sweat — three attempts to hit $0.5 have all failed, and the bears are clearly starting to dominate the market, with downward risks increasing.
The most direct feeling is that $0.5 has become a tough nut to crack. The first two times approaching this price point saw a sudden increase in trading volume, and I thought it could stabilize, but instead, there was a clear selling pressure. It’s evident that the active buying cannot hold. Behind this, there is actually a “short-term arbitrage” happening: every time it rises near $0.5, a large number of addresses cash out and leave, forming a stable pressure zone.
Moreover, the broader environment is not supportive; whenever BTC and ETH pull back, the overall market risk appetite decreases. $MERL itself lacks sufficient trend momentum, making it difficult to break through critical resistance levels.
Looking at it now, I do not recommend blindly bottom-fishing:
❌ $0.5 resistance has become a structural problem, and without new capital entering, it is difficult to break through
❌ On-chain funds are short-term oriented, lacking confidence for long-term holding
❌ Overall market sentiment is defensive, and risk-averse funds may continue to flee
In the short term, it is very likely to oscillate downward to test support; rather than betting on a breakthrough, it’s better to wait for the trend to clarify. In a bear market, staying alive is more important than making quick money 💪#BinanceBlockchainWeek #WriteToEarnUpgrade
