Anyone who has been watching $MERL lately can probably sense a subtle tug-of-war: the price has repeatedly approached the $0.5 mark, yet it always falls just short of breaking through.

This range seems to have been etched into the market’s memory; every time the price nears it, a flurry of trading activity is triggered.

$MERL has been blocked at 0.5 three times now. Each time there’s a surge in volume on the way up, it attracts buyers, but the momentum never lasts—there’s a clear reluctance from active funds to fight at this level.

Adding to this, the recent minor pullbacks in BTC and ETH are cooling overall risk appetite, so the market is naturally unwilling to force a breakout.

Similar signals are visible on-chain: multiple addresses are choosing to take profits around 0.5, and the short-term arbitrage sentiment is quite unified, further solidifying the resistance at this ceiling.

In other words, 0.5 isn’t just a price line—it’s more of a psychological threshold. To truly break above and hold, we’d need either a revival in market sentiment or an influx of new funds; otherwise, we’ll likely keep hovering just outside the door.

In the short term, the probability of a rebound is extremely low, and the risks clearly outweigh the opportunities.