MERL's recent trend is worth paying attention to. This asset is experiencing a clear downtrend, with volume breakout patterns indicating weakness. The current decline has exceeded 12%, accompanied by high trading volume and active open interest data, suggesting that the market logic implies the bulls may be under pressure or that major funds are in the process of distributing.

From a technical perspective, the price has effectively broken below a key support zone, and rebounds during trading sessions appear weak, with selling pressure persisting. Based on this structure, the short-term shorting logic is valid. The suggested entry zone is between 0.210 and 0.215, with a strict stop-loss set at 0.230. If the trade goes well, the first target can be around 0.190, with further targets at 0.170.

It is important to note that on lower time frame charts, any rebound back to the previous support zone (now turned into resistance) could become a new short entry opportunity. The entire downward structure currently looks complete, so continuing to monitor market movements is crucial.