MERL has bounced cleanly from 0.208, indicating that buyers remain active. It is attempting to switch short-term moving averages to support, but the overall trend remains weak unless it breaks higher.
My view: This is a speculative long position, so keep the size small.
Trade idea: ➤ Buy zone: 0.210 – 0.214 ➤ Stop loss: below 0.205 ➤ Targets: 0.225 → 0.238 If it falls below 0.205, I would exit quickly.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
$MERL
MERL has bounced cleanly from 0.208, indicating that buyers remain active. It is attempting to switch short-term moving averages to support, but the overall trend remains weak unless it breaks higher.
My view:
This is a speculative long position, so keep the size small.
Trade idea:
➤ Buy zone: 0.210 – 0.214
➤ Stop loss: below 0.205
➤ Targets: 0.225 → 0.238
If it falls below 0.205, I would exit quickly.