Recently observing $MERL, the overall rhythm has clearly weakened, and the trend's tone has shifted from an initial expectation of a rebound to a state of "not being able to go up, with selling pressure becoming heavier."

The first point of attention is the position of 0.5 dollars.

During this period, the market has attempted multiple times to push upwards, but each time it approaches, it is immediately pushed back by strong selling pressure, indicating that this is not a range that can be broken through in the short term simply by volume, but rather a structural resistance level. From the trading perspective, the buyers have not formed effective support, which instead weakens the bulls' ambitions.

The environmental factors have also not provided any support.

The overall market is adjusting, mainstream coins are retreating, and new coins are suffering the most in this market situation—lacking funding attention and without any momentum to drive prices up, the pressure of $MERL is naturally maximized.

The direction of on-chain data is even more critical.

Whenever the price approaches the resistance level, there is a noticeable wave of selling, forming a primal reduction reaction. Next, there will be large-scale token unlocks, and an increase in supply represents a larger foundation for selling pressure. Additionally, major holders have already transferred millions of coins to exchanges in advance; this action does not need much explanation, as the market understands what that represents.

Putting all these factors together, the current state of the market is very clear:

Buyers are not proactive, sellers' attitudes are firm, the structure is bearish, and the market is likely to continue moving downwards along with the weakness.

In this market situation, chasing highs is absolutely unreasonable.

A more practical approach is to remain on the sidelines and reduce risk. If you are good at shorting or trend operations, this type of downward market is often easier to catch the rhythm than a strong market.

In summary, the direction conveyed by $MERL at this stage is very straightforward:

Weak, bearish, and lacking momentum.

When making decisions, keeping this in mind will be more reassuring.

#MERL $MERL