$MERL 30m Shows Bearish Pressure Near Key Levels
Today, I’m watching #MERL closely as it struggles below critical equilibrium levels, signaling potential downside. The price action is testing my patience with weak bounces and looming support tests.
The trend remains bearish after $MERL failed to hold above 0.6854 and 0.6893. If it stays below these, expect further downward moves towards 0.6821 and the broader demand zone below. A break under 0.6821 could open the door to a steep drop to 0.6404 or even 0.6265 if sellers intensify. On the flip side, a solid reclaim of 0.6854 with bullish confirmation (like a pin bar or engulfing candle) would target 0.6893 first, then 0.6971. Quick reversals off 0.6819 with strong buy signals might offer short-term longs, but I’ll remain cautious until 0.6893 is held on strong volume.
⚠️ This is an AI analysis and not financial advice.
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