$MERL Long Liquidation: $1.8948K at $0.29363
Long positions were forced out as MERL lost the $0.295 support area, triggering stop losses from late longs positioned for continuation. The breakdown unfolded with steady sell pressure rather than a sharp wick, indicating sellers were in control and liquidity was taken efficiently below support.
Entry (EP): $0.29610
Take Profit (TP): $0.27480
Stop Loss (SL): $0.30340
Market Outlook:
$MERL is showing short-term bearish pressure after losing this liquidation zone. As long as price remains capped below the $0.295–0.300 resistance range, downside continuation toward lower demand levels remains likely. Volatility is elevated patience and strict risk management are essential as price searches for a new base.
