$MERL /USDT ‌

Current price action is showing weak structure with ~-1% change in the last 24 hours. After a failed upside push toward 0.356, price got rejected hard and is now trading around 0.332, indicating sellers are in control.

On the 1H timeframe, repeated bearish candles + lower highs are visible. Volume is not supporting bullish continuation, which increases the probability of a deeper pullback before any real upside move.

Market Structure Insight

Strong rejection from 0.355–0.356 resistance

Price stuck below intraday VWAP / short EMAs

Weak recovery attempts → distribution behavior

If 0.325 support breaks, panic selling can accelerate

Bearish Trade Setup (Primary Scenario)

• Entry Zone: 0.334 – 0.338
(short on pullbacks / rejection)

• Target 1 🎯: 0.325
• Target 2 🎯: 0.318
• Target 3 🎯: 0.305

• Stop Loss: 0.348 (above rejection high)

Risk–reward is favorable as long as price stays below 0.348.

Alternative Bullish Scenario (ONLY if This Happens)

If price reclaims and holds above 0.35 with strong volume, bearish bias invalidates.

Bullish Breakout Levels:

Confirmation above: 0.352

Targets: 0.365 → 0.385

No volume = no trade. Wait for confirmation.

Final Verdict

Right now, MERL is in a corrective / distribution phase, not a clean accumulation.
Bias remains bearish short-term unless key resistance is flipped convincingly.

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