To be honest, I've been staring at $MERL for too long recently, and the more I look, the stranger it feels.

It's not because it has risen sharply, but because it is stuck at $0.5.

From $0.49 → $0.495 → hitting $0.5, then dropping back down, I have become numb to this cycle. Three attempts to break through, three failures; this can't just be explained as "the market is average."

The first thing that alerted me was that the technical resistance is getting increasingly "hard."

$0.5 is no longer just a psychological price point; it is a structurally validated pressure zone. Every time the price approaches, selling pressure immediately increases, as if someone is specifically waiting to hammer it down. There is buying interest, but it is consistently and precisely suppressed—this is clearly a premeditated arbitrage structure.

The second chilling detail is the regularity of on-chain behavior.

Every time it nears $0.5, a group of familiar wallets releases their holdings in batches; the amounts are not large, but the rhythm is very steady—typical of swing traders who "sell at target price." These holders do not chase the highs; instead, they continually suppress the momentum for a breakout.

The third reality: confidence is still there, but the trend momentum is waning.

Community sentiment is optimistic, but the capital is clearly cautious. Everyone is saying, "This time it will definitely break," but in action, they are all waiting for someone else to make the first move.

Thus, every rise becomes a window for others to exit, and each time we think it’s going to break through, it proves to be a false signal.

So the question arises:

Is $0.5 the end point for $MERL, or just a halftime break?

Whether it can break out with volume and hold for three days will determine the future trend. If it continues to grind and creates more false breakouts, one must be careful—perhaps a complete "false breakout trap" is forming.

At this point, every holder should think clearly:

👉 Are you buying the narrative, or the true momentum of the price?

#MERL #CryptoWatch #OnChainInsights #MarketTruth