Recently, MERL has benefited from a rebound in macro risk appetite and a technical resonance of rising volume and price, with main funds actively building long positions. The short-term trend has shifted from consolidation to an uptrend, making effective breakouts through the key resistance levels of 0.0296 and 0.0346, and reclaiming the 0.0378 high. However, attention needs to be paid to the medium- and long-term upward pressure on interest rates under the Federal Reserve’s hawkish stance. If the USD and U.S. Treasury yields continue to rise, market risk appetite and valuations may be suppressed. In the short term, it is recommended to set a risk control level based on 0.0346, follow the trend for allocation, and monitor the sustainability of trading volume. In the medium- to long-term, closely track interest rate curve and liquidity changes, grasp signals of shifts in the overall environment, and manage position sizes cautiously.

Recently, geopolitical risks between the U.S. and Iran have eased, combined with the Federal Reserve releasing somewhat hawkish signals, leading to a moderation in risk-off sentiment and a general recovery of risk assets. U.S. stocks, especially the AI sector rebound, have driven up market risk appetite, followed by a rally in the digital asset market. Leading cryptocurrencies such as BTC and ETH have stabilized and moved upward first, improving overall market liquidity and creating a short-term bullish atmosphere for small- and mid-cap tokens. As a relatively liquid small- and mid-cap asset, MERL saw a surge of short-term capital inflows under the recovering risk sentiment, which further fueled bullish momentum.

Daily chart shows that since MERL bottomed around 0.0215 on April 3, trading volume has continued to increase, and the bulls have launched a corrective rebound. From April 14 to 16, three consecutive bullish candlesticks accompanied by surging volumes pushed the price to break through the previous resistance levels at 0.0296 and 0.0346 in one move, closing back up to the 0.0378 high, displaying the classic pattern of rising price and volume in tandem. Short-term moving averages have aligned bullishly and started to turn upward, while the MACD golden cross was followed by an expansion of positive momentum, indicating stronger buying forces and a short-term trend shift from consolidation to an uptrend.

Despite some short-term gains aided by a rebound in risk appetite, attention should be paid to the upward pressure on medium- to long-term rates resulting from the Fed’s hawkish shift. In a high-interest-rate environment, higher liquidity costs may put pressure on risk asset valuations. If the USD or U.S. Treasury yields continue rising in the future, market sentiment may turn cautious again. MERL does have technical conditions for a short-term rebound, but under sustained expectations of the Fed tightening monetary policy, any marginal improvement in risk appetite may be limited. It is crucial to closely monitor changes in the macro interest rate curve and their effects on market liquidity.

Merlin Chain

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Live chart for Merlin Chain to USD conversion. Check out MERL to USD prices in real time. Convert, buy, sell, and trade Merlin Chain on Bybit-ge.

Merlin Chain Price: MERL Live Price Today | MERL Market Cap & Chart Analysis | Bybit-ge

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MERL price today is 0.04, with a live price change of -5.32 in the last 24 hours. Convert, buy, sell and trade MERL on Bybit-ge.

Track Merlin Chain live price, market cap, 24-hour trading range, and real-time chart data on Bybit-ge.

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