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MERL's recent rebound has generated quite a bit of buzz, but the underlying story might not be as straightforward as it seems.
During the Christmas market, MERL briefly surged to around 0.43 USDT, with a 24-hour increase of over 7%. The candlestick chart looks aggressive, and trading volume also increased. However, a closer look reveals some issues—the volume during the spike was actually limited, and the funds following the trend are gradually decreasing. At the peak, the price was directly pushed down below 0.428, which looks like a classic trap to lure in buyers.
From a market perspective, the impressive gains are not matched by corresponding trading volume. Bullish enthusiasm is waning, and large sell orders are gradually pouring in. This pattern often indicates that the market maker is in the process of offloading their holdings, and the stage for the bears may just be beginning.
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It's the same old trick again; the shrinking trading volume at high levels is obvious.
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Topping manipulation is getting boring. Hurry up and run, friends.
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Wait, the divergence between volume and price is so obvious? The big players are about to harvest.
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Why are you back again? I haven't even been fully trapped yet.
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This wave indeed has significant issues; the details don't stand up to scrutiny.
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Is a drop an opportunity? Or should we continue to be bearish?
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With such trading volume, I feel uncertain.
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Oh my God, are we about to get cut again?
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This move by MERL is really a scythe, the volume is fake, and funds are fleeing.
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You should have run when the sell orders came in, now you must be regretting it.
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Behind beautiful candlesticks are traps, the market makers are unloading, and we're the bagholders.
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Details reveal the truth. A 7% surface-level increase is deceptive; the volume and price don't match at all.
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The bullish enthusiasm has faded, and the bears are about to start. This rhythm is clearly a pump deception.
There are too many instances of insufficient volume surge to push prices higher. The fact that funds are decreasing wave after wave indicates what? Those who should have sold early already did.
A drop around 0.43, typical manipulator tactic. Retail investors are just waiting to be harvested.
The trading volume doesn't match the price increase, which is ridiculous. The bears should take their turn now.
Honestly, it's the same old trick. It looks lively, but no one is really taking the bait.