追风吖
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Bearish
$MERL Recent structural pressure, short-term bearish
The supply rhythm in December is not friendly to MERL, with multiple days of continuous unlocking leading to a temporary expansion of the circulating supply. Even though actual selling behavior has not fully manifested, supply expectations have already suppressed buying sentiment in advance, naturally limiting the rebound potential.
On-chain, there are also noteworthy defensive signals emerging. Large amounts of MERL transferred to exchanges occurred on the eve of the unlocking window, resembling preparations for volatility in advance. Such actions are likely to amplify the market's cautious expectations. Before the new chips are gradually digested, prices are more likely to maintain a weak structure, with limited upward space.
Considering the supply and on-chain signal judgments, $MERL is still treated as primarily bearish in the near term.
{future}(MERLUSDT)
The supply rhythm in December is not friendly to MERL, with multiple days of continuous unlocking leading to a temporary expansion of the circulating supply. Even though actual selling behavior has not fully manifested, supply expectations have already suppressed buying sentiment in advance, naturally limiting the rebound potential.
On-chain, there are also noteworthy defensive signals emerging. Large amounts of MERL transferred to exchanges occurred on the eve of the unlocking window, resembling preparations for volatility in advance. Such actions are likely to amplify the market's cautious expectations. Before the new chips are gradually digested, prices are more likely to maintain a weak structure, with limited upward space.
Considering the supply and on-chain signal judgments, $MERL is still treated as primarily bearish in the near term.
{future}(MERLUSDT)
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