MERL Market Observation: Bearish Forces are Accumulating, Increasing the Possibility of a Drop to $0.2
Recently, the price of MERL has shown significant weakness. A closer look reveals that it has encountered resistance near $0.5 three times in a row, with each rebound reaching a lower height than the previous one, indicating that sellers are gradually taking control, and the buying power in the market is weakening.
This is not an ordinary correction, but more like a pause in a downward trend. Each rebound has become an opportunity for bears to increase their positions, and the market shows that bulls are temporarily struggling to take the initiative.
