As per CoinEdition, Merlin Chain (MERL) is showing signs of strength amid rising spot inflows and increased derivatives activity. The token currently trades near $0.31, having stabilized after a sharp rally and failed to maintain last week’s high. Open interest in MERL futures has climbed to $159 million as of November 27, signaling stronger leveraged positioning and potential for increased volatility. Spot inflows have turned positive, with a $1.22 million inflow recorded recently, marking a notable shift in market sentiment. Key technical levels include $0.40–$0.41 as immediate resistance and $0.30 as critical support. A break above $0.45 could signal renewed bullish momentum, while a drop below $0.30 may expose lower support levels.
Merlin Chain (MERL) Gains Strength Amid Rising Inflows and Derivatives Activity
CoinEditionShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.