$MERL /USDT trades at $0.37679, hovering above key support at $0.364–$0.370, where buyers recently absorbed downside pressure. Immediate resistance sits at $0.384–$0.392, a zone that has repeatedly capped short-term rallies. A breakout above this range could open upside targets toward $0.405 and $0.420. If support fails, price may retrace toward $0.350. Market structure remains neutral with a slight bullish bias while higher lows hold, though momentum appears to be consolidating before a potential breakout. Volume is moderate, suggesting balanced participation from both sides. A logical stop-loss sits just below $0.362 to protect against a clean structural breakdown without crowding volatility.