$MERL $MERL is showing serious weakness, but the price is close to a zone where traders may start watching for buyer defense. At 0.02654 with a -13.35% move, sellers are pressing hard. The setup only becomes interesting if $MERL holds around 0.0255–0.0268 and starts reclaiming strength. If it breaks below support without reaction, there is no reason to force the idea. Watch zone: 0.0255–0.0269 Key support: 0.0248 Key resistance: 0.0278 TG1: 0.0285 TG2: 0.0296 TG3: 0.0310 Stop loss: 0.0239 Invalidation: below 0.0235 Risk management note: Red momentum can continue longer than expected, so the invalidation level should be respected. Pro tip: A good bounce setup usually starts when sellers fail to push lower, not when traders simply guess the bottom. Would you watch $MERL near support, or wait for a reclaim above 0.0278? #OKXOrbitTopics #OKXPizzaDay #ICEBacksOKXOilPerps @OKX Orbit