๐ Buyers hold trend โ $MERL grinds upward with controlled pullbacks
Price pushes through resistance from the base and now consolidates under supply on the 1H chart โ structure remains constructive with momentum shifting up.
Key Support / Resistance
Support sits around 0.3600โ0.3640 where the breakout started and aligns with the rising MA25 and trend support on lower timeframes. Resistance rests near 0.3810 โ the pivot where supply capped the previous move.
MERL printed its swing low at 0.3155, then built a clean accumulation structure before breaking out with expanding volume. Momentum remains supported โ RSI sits above mid-zone with no major divergence, and MACD stays positive with a shallow histogram showing a healthy grind instead of exhaustion. Pullbacks remain shallow, indicating buyers are stepping in early rather than waiting for deeper discounts. As long as support holds, continuation toward the prior wick zone is the higher-probability path.
๐ Trading Plan (Long): 0.3600 โ 0.3640 (wait for pullback)
๐ฏ TP: 0.3810 | 0.3880
๐ SL: 0.3530
#MERL #altcoin
