Note that $MERL recent trend is really not good, the short signals are wave after wave, and the downside risk has been placed on the table.

Let's talk about the most critical price level first. In the past few weeks, $MERL have tried to break above $0.5 three times in a row, but each time it was smashed down as soon as it was touched, and it was completely untenable. Don't look at the trading volume that seems to have amplified when it breaks through, but the real buying order is very weak, and the bulls can't support the market at all, and it is almost impossible to break through in the short term.

The market is not strong either. BTC and ETH are pulling back, and the overall market sentiment is bearish. Originally, the new currency needed to be pushed by emotions, but now that the market is cold, $MERL is directly under pressure, and the probability of a decline has been doubled.

The most terrible thing is the on-chain movement.
As soon as they saw the price approaching $0.5, many currency holding addresses immediately chose to cash out and leave the market, directly pushing the price back. What's even more dangerous is that 70 million tokens will be unlocked soon, and the supply is too high, and the price will definitely be under pressure. In addition, some large investors have transferred 16 million tokens to the exchange in advance, which is basically equivalent to telling you that people are ready to smash the market at any time.

Now the market is clear:
There are few people who buy, there are many people who sell, and the imbalance between supply and demand, and the market is easy to fall into a downward cycle of "selling more and selling more and selling more and falling".

Therefore, at this time, don't chase high impulsively, that is, hit the edge of the knife. Be more stable and wait and see first, don't take risks for yourself. If you are an experienced trader who is trending and shorting, this downward wave may be an opportunity.

Crypto investment is inherently risky, and the signals of $MERL are already clear, so you must be cautious when you should be cautious.

#MERL $MERL