🚨 Short selling opportunity is right in front of you! $MERL Triple top structure confirmed
MerlinLayer benefits from the excitement around Bitcoin Layer-2 ecosystem, the positive news from Coinbase's listing, and the inflow of funds into the derivatives market, having rebounded somewhat previously. But now signs of fatigue have appeared:
【Technical Analysis: 0.5 Iron Top】
In the past three weeks, there have been three failed attempts to break through $0.5, each time approaching the resistance level accompanied by massive selling pressure. The buying power is willing but weak; this is no longer a technical correction but a clear signal of trend exhaustion. The divergence between volume and price is serious, and bulls are about to retreat.
【Unlocking Wave: 70 million coins about to hit the market】
December is the unlocking month for MERL. On 12/12, 15, 16, and 19, about 70 million coins will be released continuously, which is nearly a 7% increase in circulation. It doesn't matter if they will sell everything, the market psychology has already collapsed—who dares to catch the falling knife at this position?
【On-chain Signals: Smart money has fled】
Remember last week's operation where big holders transferred 16 million coins to exchanges? That was a warning signal. Now the price is stuck below the resistance level, and with the unlocking day approaching, smart money has already made an early exit.
【Short Selling Strategy】
- Entry Range: 0.48-0.495 (area of third failed resistance test)
- Stop Loss: 0.515 (stop loss upon breaking previous high)
- First Target: 0.42 (previous support platform)
- Second Target: 0.38 (strong support area)
This position has a suitable risk-reward ratio. $0.5 has become the dividing line between bulls and bears; if it can't go up, it can only go down.
#Merlin
First short, then grab a red envelope.
MerlinLayer benefits from the excitement around Bitcoin Layer-2 ecosystem, the positive news from Coinbase's listing, and the inflow of funds into the derivatives market, having rebounded somewhat previously. But now signs of fatigue have appeared:
【Technical Analysis: 0.5 Iron Top】
In the past three weeks, there have been three failed attempts to break through $0.5, each time approaching the resistance level accompanied by massive selling pressure. The buying power is willing but weak; this is no longer a technical correction but a clear signal of trend exhaustion. The divergence between volume and price is serious, and bulls are about to retreat.
【Unlocking Wave: 70 million coins about to hit the market】
December is the unlocking month for MERL. On 12/12, 15, 16, and 19, about 70 million coins will be released continuously, which is nearly a 7% increase in circulation. It doesn't matter if they will sell everything, the market psychology has already collapsed—who dares to catch the falling knife at this position?
【On-chain Signals: Smart money has fled】
Remember last week's operation where big holders transferred 16 million coins to exchanges? That was a warning signal. Now the price is stuck below the resistance level, and with the unlocking day approaching, smart money has already made an early exit.
【Short Selling Strategy】
- Entry Range: 0.48-0.495 (area of third failed resistance test)
- Stop Loss: 0.515 (stop loss upon breaking previous high)
- First Target: 0.42 (previous support platform)
- Second Target: 0.38 (strong support area)
This position has a suitable risk-reward ratio. $0.5 has become the dividing line between bulls and bears; if it can't go up, it can only go down.
#Merlin
First short, then grab a red envelope.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
MERLUSDT
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