š„ MERL Rises: MA Alignment Confirms Strong Uptrend
1. š Strong Uptrend: The price is in a clear and sustained bullish trend following a local bottom.
2. šÆ Testing {$0.42} Resistance: The price is currently consolidating near {$0.425227}, a local high resistance point.
3. š¢ {MA} Alignment: The price is above all key Moving Averages ({MA(7)}, {MA(25)}, {MA(99)}), confirming strong bullish structure.
4. š„ {MACD} Momentum: The {MACD} shows a strong bullish crossover with increasing positive momentum ({DIF} above {DEA}).
5. ā ļø Overbought \text{RSI}: All three {RSI} readings are above {60} ({67.9} to {63.3}), indicating the asset is overbought and due for consolidation or a pullback.
6. š Healthy Volume: The recent price rise is supported by consistently high trading volume.
7. š”ļø Immediate Support: The nearest significant support is the {MA(7)} at {$0.394715}.
8. š Long-Term Support: The major long-term support is the {MA(99)} at {$0.207037}.
9. šø Valuation Risk: The Market Cap ({$416.73M}) is significantly lower than the {FDV} ({\$893.94M}), indicating potential future selling pressure from token unlocks.
10. š Primary Bullish Bias: Despite the overbought {RSI} and {FDV} risk, the strong MA and \{MACD} signals maintain a primary bullish outlook.