According to the analysis of the 4-hour chart of MERL/USDT, the current market structure clearly shows a bullish trend. The price has successfully broken through the previous consolidation range and is now stabilizing above all key exponential moving averages (EMA 7, 25, 99). The EMAs exhibit a typical bullish arrangement (7>25>99), indicating that the upward trend has been established in the short to medium term. Additionally, the Bollinger Bands have begun to expand after narrowing, with prices running along the upper band, which is a sign of a strong market. The resonance of technical indicators further strengthens the bullish view. The Relative Strength Index (RSI) is above the midpoint of 50 but has not yet entered the overbought zone, suggesting sufficient upward momentum with room for further gains. The fast line of the Moving Average Convergence Divergence (MACD) is above the signal line, and both are above the zero axis, indicating strong buying momentum. Logically, after the price broke through the key resistance level of approximately $0.43, this level has become solid support. Therefore, looking for entry points near this newly formed support area during a pullback is a high-probability trading strategy, as it aligns with the current dominant trend and is confirmed by several technical indicators.
**Trading Setup:**
- **Entry Point:** 0.4420
- **Target One:** 0.4950
- **Target Two:** 0.5500
- **Stop Loss Point:** 0.3980
$MERL
MERLUSDT
Perp
0.43166
-3.47%