$MERL Market Observation: Bearish forces are accumulating, increasing the possibility of a decline to $0.2

Recently, the price performance of $MERL has shown significant weakness. Upon closer inspection, the $0.5 level has encountered resistance three times in a row, with each subsequent rebound reaching a lower height, indicating that sellers are gradually taking control of the pace and the buying power in the market is weakening. …$MERL lacks favorable factors that can drive independent rises. If the price cannot quickly return to and stabilize above $0.38, downward pressure will continue, and the market focus may shift further downwards.

From a technical perspective, the scale is clearly tilted towards the bears, and in the short term, the price is likely to continue its weakness, with the next key support area around $0.2, which is the true bottom of this adjustment and also the timing for us to wait for the next entry opportunity! Investors should be aware of the risks.