Looking at the trend of MERL, the technical pressure is quite significant. The midline is stuck at 0.29, and the 10-period moving average is at 0.27. Both resistance points need to be broken for any bullish outlook.

The trading volume tells the real story. The whales accumulated positions in August and September, and by November, they started to offload. Now, the trading volume has shrunk drastically, and most traders have exited. It's unlikely to see any significant movement in the short term.

That said, this coin is not an air token; it does have real value backing it. The problem is the continuous unlocking mechanism, which keeps dumping sell orders. Under the dual pressure of these factors, it's hard to find a breakthrough point. There are no good opportunities; we just have to wait.