$MERL will enter a large-scale unlock window in December, with supply-side pressure about to erupt

According to the official schedule, this month $MERL will see a total of approximately 70 million tokens unlocked both linearly and through nodes, specifically on December 12, 15, 16, and 19, with a massive release completed within four days. Such a short-term, high-density supply shock, given the current general lack of market depth, will almost certainly translate into substantial selling pressure.

What’s even more concerning is that both on-chain and off-market signals have already reflected panic sentiment in advance:

- In the past two weeks, over 16 million $MERL have been transferred by large holders to centralized exchanges, clearly in preparation for selling
- OTC prices have consistently remained below spot prices, with early investors showing a strong willingness to cash out; any level of rebound in the market will immediately trigger dense profit-taking orders
- Trading volume continues to shrink, with bullish momentum almost disappearing—a typical “selling with no buying” pattern is taking shape

From a technical standpoint, $MERL has recently failed three attempts to break through the 0.0000085-0.0000090 range, forming a clear triple top pattern. The current price has fallen below all short-term moving average supports, leaving the downside completely open. Judging by the unlock schedule, any rebound is likely just a bull trap, and any short-term rally will offer a better exit opportunity.

In summary: When a massive unlock meets weak demand and preemptive on-chain exits, a downward move becomes almost a certainty. In December, rather than fantasizing about a reversal, it’s better to go with the trend—the short window has been fully opened.

#MERL # unlock pressure #12月风险 # crypto market