【$MERL Signal】Short squeeze pullback, 1H level secondary upward move

$MERL 1H level RSI surged to 73.99 then pulled back, price running close to the upper Bollinger band. The 4H MACD histogram continues to expand, indicating buying momentum is not exhausted. Market depth shows sparse sell orders, with a -28.97% imbalance suggesting light selling pressure above, and clear capital support intentions. The current price is in a consolidation phase after a short-term surge, a structure often brewing for a secondary pulse.

🎯Direction: Pullback to buy

⚡Entry/Order: Hidden near the lower boundary of 0.03717 - 0.04263 range, current price 0.04284 slightly above, can wait for a pullback to 0.0400-0.0410 area for active support.

🛑Stop loss: 0.03323

🚀Target 1: 0.04506

🚀Target 2: 0.04900

🛡️Trade management:
- Execution strategy: After reaching Target 1, halve the position, and move the remaining stop loss up to the entry price. If the price cannot hold above 0.0420 and falls below 0.0400 again, consider exiting early and observing.

The 1H EMA20 and EMA50 form a golden cross and diverge upward, providing support. The 4H Bollinger Bands are opening upward, with the midline at 0.0373 forming a strong support zone. Although the short-term rally has been large, the open interest remains stable and the funding rate is only 0.005%, with no extreme long premium, indicating low short squeeze risk. More importantly, the latest 4-hour candle volume has significantly increased, breaking previous highs with volume, which is highly valid. Under this volume-price combination, a pullback is an opportunity.

Check real-time market 👇 $MERL
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