【$MERL Signal】1H timeframe strong breakout, watch for pullback buying opportunities

$MERL 1H timeframe RSI soared to 74.84, price has already broken above the 4H Bollinger Band upper band at 0.0432.
Buyers' depth imbalance is at 8.86%, indicating a clear bullish push.
1H MACD histogram continues to expand, but the latest one-hour trading volume has contracted, showing a gap in buying pressure.

The current price of 0.04411 is far from the dense zone of the 4H moving averages, making chasing higher risky.
A better strategy is to wait for the price to pull back to the 1H EMA20 at around 0.0398 and observe if funds will support the bottom again.

🎯Direction: Pullback to go long (place orders)

⚡Entry/Order placement: 0.03788 - 0.03980 zone, staggered entries

🛑Stop loss: 0.03373

🚀Target 1: 0.04617

🚀Target 2: 0.05031

🛡️Trade management: - Execute strategy: reduce half of the position after reaching 0.04617, move the remaining stop loss up to the entry price.
If the price cannot stay above 0.0398, abandon this trade.

The 4H MACD has formed a golden cross and continues to expand, indicating the trend remains bullish.
However, after the 1H rally, RSI has entered overbought territory, increasing short-term profit-taking pressure.
Market data shows buy orders near 0.043 are thinning out, while sell orders are stacking above 0.045.
Under this structure, the price is likely to pull back to confirm support strength before choosing a direction.
Funding rate at 0.5% remains healthy, with no signs of extreme short squeeze.
Risk-reward ratio is close to 1:2, making this setup worth a try.

Check real-time market 👇 $MERL
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