A $9.27K LONG liquidation just hit $MERL at $0.06096, wiping out a heavy cluster of leveraged long positions and resetting short-term market structure. Liquidations of this size often act as a major liquidity sweep, clearing weak hands and opening a sharp volatility window.

With leverage flushed, $MERL is now trading at a key reaction zone. If buyers step in and defend this level with strong volume support, $MERL could attempt a rebound. Failure to hold may lead to deeper downside exploration before balance is restored.

Trade Setup

EP: 0.0600 – 0.0620

TP1: 0.0665

TP2: 0.0735

TP3: 0.0855

SL: 0.0578

Large liquidation events can shift structure quickly — let price action confirm direction.

#merl #PEPEBrokeThroughDowntrendLine #TradeCryptosOnX #MarketRebound #CPIWatch