Recently, $MERL
the trend can be described as 'heart-stopping', with a dense release of bearish signals, and the downside risk is clearly presented to all traders.
In the past few weeks, this cryptocurrency has failed three times to break the key price level of $0.5, seemingly pushing for a breakthrough but in reality showing weak buying pressure, with bulls completely unable to support the market. Coupled with the market correction led by BTC and ETH, the overall market sentiment is leaning bearish, and the new coin $MERL, which relies on emotional drive, is under even greater pressure, with the probability of decline significantly increasing.
Even more critically, on-chain movements: the price touches $0.5 and is immediately met with cashing out by holding addresses, with 70 million tokens set to be unlocked, and another 16 million already transferred to exchanges by large holders waiting to sell. Currently, the supply and demand of $MERL is severely imbalanced, making it easy to fall into a vicious cycle of 'the more it drops, the more it sells'.
At this time, do not impulsively chase high prices; conservative traders are advised to wait and see. Traders with short-selling experience may pay attention to downside opportunities, and cryptocurrency investments must adhere to a cautious bottom line.
#MERL $MERL
