$MERL faces technical pressure, making a rebound more difficult

In recent weeks, the price of $MERL has repeatedly tested the key $0.5 zone, but has failed to break through each time. This repeated pattern indicates that a clear structural resistance has formed at this level, creating significant technical pressure on the market. On three occasions when the price attempted to breach $0.5, trading volume increased, but buying momentum failed to sustain, revealing cautious sentiment from active market participants at this price point.

Over the past few weeks, $MERL has tested the $0.5 price range multiple times. However, every time it approaches this crucial level, strong selling pressure emerges, making it difficult for the price to break through. Although trading volume has picked up during these upward attempts, the lack of consistent buying support reflects weak bullish confidence. Notably, as the price nears $0.5, selling pressure intensifies, indicating limited market conviction at this level.

Recently, short-term pullbacks in both $BTC and $ETH have led to a decline in overall market risk appetite, affecting $MERL 's price movement as well. As market sentiment turns defensive, $MERL has failed to generate effective upward momentum near technical resistance. Under these circumstances, the difficulty of breaking through increases significantly, and the likelihood of further short-term gains is low.

On-chain data also shows that current market participants are primarily engaged in short-term arbitrage, especially when the price approaches $0.5, with many addresses choosing to take profits. This frequent selling activity has capped $MERL 's upside potential, creating a stable ceiling of resistance. Investor caution in this key range has made it difficult for the price to break out and has increased downside risk for the market.

In the current market environment, $MERL is facing very obvious technical pressure, and it will be difficult for the price to break through the $0.5 range in the short term. As market sentiment shifts, selling pressure on $MERL may further increase, making a rebound even harder. Therefore, the short-term market outlook remains weak, and the probability of a breakout is low.