Rejection from local resistance showing downside pressure

$MERL SHORT

Trade Plan

Entry Zone

$0.0340 to $0.0355

Stop Loss

$0.0378

Take Profit Targets

TP1 $0.0315

TP2 $0.0290

TP3 $0.0265

Why this setup

Clear rejection near $0.036 to $0.037 resistance zone

Lower high forming on 1H timeframe

Selling pressure increasing after sharp push up

Potential pullback towards previous demand zone

Buy and Trade $MERL

MERLUSDT

Perp

0.03652

-4.69%