【$MERL Signal】Short squeeze pullback, long positions targeting

$MERL 1H timeframe rises then pulls back, price repeatedly tests around 0.0420 near the upper Bollinger band on the 4H chart. 1H RSI is at 71.22, buying momentum remains but shows signs of fatigue. The 4H MACD histogram continues to expand, indicating the bullish trend remains intact, but volume on the 1H chart has decreased after the rally, suggesting a healthy correction is needed to digest profit-taking. Market depth shows buy orders are 10.5% thicker than sell orders, indicating clear support from funds.

🎯Direction: Pullback to buy

⚡Entry/Orders: Within the 0.03717 - 0.04247 range, prioritize partial entries below 0.0400

🛑Stop loss: 0.03323

🚀Target 1: 0.04506

🚀Target 2: 0.04900

🛡️Trade management:
- Execution strategy: Reduce half of the position when price reaches 0.04506, move the remaining stop loss up to the entry price. If the price cannot hold above 0.0425, consider taking partial profits early.

Current funding rate of 0.005% is acceptable, no extreme short squeeze signals. The 1H EMA20 at 0.0389 and the 4H midline at 0.0373 form a dense support zone. If the price can find support in this area and volume increases, the probability of testing the previous high at 0.04343 will significantly increase. Stable open interest indicates confidence among holders; in this structure, a pullback is an opportunity.

View real-time market 👇 $MERL
---
Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#GatePreIPOs首发SpaceX #Gate13周年现场直击 #加密市场小幅下跌