Recently, everyone watching
$MERL understands this frustration. Three attempts to surge past $0.5 were all pushed back, trading volume increased but couldn't support buy pressure. This price level has become a hard resistance, and the selling pressure is visibly evident.
On-chain data is even more straightforward. Every time it approaches $0.5, funds take profits, and the ceiling is firmly welded shut.
Coupled with BTC and ETH retracements, market risk appetite has sharply declined. $MERL already lacked momentum to move upward, and what worsens the situation is the 70 million tokens being un