$MERL This price movement is a bit stuck. The $0.5 level has been tested three times but just can’t break through, almost like it’s under a spell.

Every time the price touches this point, trading volume does pick up, but buying power just doesn’t keep up—it feels like the capital is all sitting on the sidelines watching. What’s worse is that the broader market isn’t helping—BTC and ETH are both in correction, and overall market risk appetite is being heavily suppressed. $MERL trying to break out on its own? That’s really tough.

On-chain data is even more discouraging: whenever the price gets close to $0.5, those whales start cashing out and leaving, pinning the ceiling in place. In the short term, breaking through this barrier will depend on whether a new catalyst comes in.