$MERL 30: A new daily high has been set.
24h +20.3%, current price 0.03503, previous high 0.03469.
From a structural perspective, a new high means there is less overhead supply from holders who bought at higher prices, so short-term resistance is relatively low. However, if the price quickly falls back below the previous high, beware of a bull trap. Where do you think it goes from here?
Stay calm and manage your position size.
24h +20.3%, current price 0.03503, previous high 0.03469.
From a structural perspective, a new high means there is less overhead supply from holders who bought at higher prices, so short-term resistance is relatively low. However, if the price quickly falls back below the previous high, beware of a bull trap. Where do you think it goes from here?
Stay calm and manage your position size.