Recently, $MERL 's surge seems quite powerful, but from a structural perspective, I still lean clearly towards bearishness. This looks more like a rebound in a weak environment designed to lure in long positions, rather than a true trend reversal.

The price briefly surged to 0.439 USDT with a noticeable increase, climbing in market cap rankings, but the trading volume does not match this movement. Small funds with low liquidity can push prices higher, and the market sentiment is quickly amplified. Such movements are often a prelude to distribution rather than the start of a new trend.

From a technical standpoint, the 0.45 region faces clear resistance. After multiple attempts to break through, the price quickly falls back. Momentum indicators are high, but trend indicators remain bearish, indicating that the rebound has not changed the overall structure.

Therefore, I won't chase the high in trading. Instead, I will continue to follow the trend and look for short opportunities around 0.45. Remember to set stop-losses. If the price breaks below 0.4 USDT later, it can be seen as a continuation of the trend, and consider adding to positions accordingly.

Before reaching 0.5 USDT, I maintain a clear bearish outlook on $MERL , managing risk carefully. Trading along the trend remains the more prudent choice at this stage.