Brothers, a bloody lesson! Last week, I impulsively chased $MERL, and now I'm directly in deep trouble. This operation has completely confused me 🤯 Today, I must have a good talk with you about the trend of this coin, and make sure not to fall into the pit again!

Here's the thing: last week, I saw $MERL continuously surge, and it looked like it was about to touch the $0.5 mark. I thought about buying the dip to make some quick money, but as soon as I bought in, it started to pull back. After observing these past few days, I can say that this coin really can't hold up—three attempts to break through $0.5 have failed, and every time it approaches this price level, the trading volume seems lively, but in reality, it's all sell orders flooding in, while the buy orders are hesitant to follow up; active funds are more cautious than rabbits.

Now, $0.5 has become a solid resistance level, filled with profit-taking orders. As soon as the price rises, someone cashes out, and the selling pressure is outrageous. Even if there are funds wanting to push it up occasionally, they are immediately suppressed by high sell orders, and it simply can't rise; those chasing the price up have all become bag holders.

Looking at the on-chain data is even scarier 😱, every time the price approaches $0.5, a large number of addresses reduce their holdings to cash out, and the supply pressure is directly maxed out, with the upper space being tightly compressed.

Overall, $MERL is now completely dominated by bears, and in the short term, it will either oscillate at high levels or slowly decline; a strong breakout is basically impossible. I remind all brothers not to chase high prices! You must control your position well; don't be impulsive like me and get trapped after entering. It's best to patiently wait for clear low-buy signals or simply stay on the sidelines to avoid the traps of short-term false breakouts.

Consider the money lost in this wave as a lesson; I hope everyone can avoid this pit!

$MERL