#大户持仓动态 MERL's recent performance has been a bit concerning. After three consecutive attempts to break through the same resistance zone, it has been pushed back down, forming a typical triple top — this indicates that the strength of long positions has basically been exhausted. Every time it seems to be making a hopeful upward move, it ends up getting strongly dumped, with selling pressure accumulating time and again, giving the impression that the market maker is pumping while dumping at high levels.

The more challenging issues lie ahead. The massive token unlock in December looms overhead, which means that the pressure on the supply side will continue to amplify. Once the market makers start to accelerate their sell-off, it could likely trigger a chain reaction – those picking up the pieces should be cautious, as it’s easy to end up buying at the peak during this time. The movements of $BTC and $ETH are also worth paying attention to.

The current pattern is clear: bears are dominant. A rebound may not necessarily be an entry opportunity; instead, it could be a good time to stop-loss or sell. It is advised to keep a close eye on the market rhythm and not to overexpose your positions, as unforeseen risks always tend to emerge when you let your guard down.