$MERL Short-term surge of 17%? Be careful of the '诱多' trap, the short sellers' feast is about to begin!
Current price: 0.45 USD, peaked at 0.48. Core viewpoint: short on rallies, do not chase the rise.
MERL today surged against the trend, with an increase of 17%, and its market value has returned to the Top 100. But do not be deceived by the surface, this is very likely a '诱多' trap created by the manipulators using low liquidity.
1. Manipulators induce buying; the technical aspect is inflated. The current surge resembles a 'final carnival'. Manipulators forcibly push the market up amidst insufficient liquidity, enticing retail investors to buy high. From a technical perspective, key resistance levels are repeatedly broken, and the upward structure is actually weak, facing the risk of a sudden drop at any time.
2. December 'supply peak', selling pressure is imminent, and the fundamentals face severe tests. In December (on the 15th, 16th, and 19th), there will be a concentrated unlocking, with about 70 million MERL flooding into the market. Even if OTC holders do not sell completely, the market's panic over the 'supply peak' will deter buying. Furthermore, the early cost of chips is extremely low, and the incentive to take profits is very strong; any rebound is a good opportunity for the main force to offload.
3. On-chain evidence: Large holders rush to sell. On-chain detectives have found that large holders have urgently transferred 16 million MERL (approximately $8 million) to Bybit. This is clearly a 'rush to sell' behavior before the unlocking date. Large holders are retreating, are you still buying?
Strategic advice: The market is sliding into a vicious cycle of 'selling pressure expectations → gradual decline → panic'. It is not advisable to chase long positions at the moment; it is recommended to lay out short positions on rallies, pay attention to the resistance level above, and take advantage of the decline benefits brought by this structural weakening and unlocking selling pressure!
