Bithumb MERL Suspension: Key Information for Traders Regarding the Network Upgrade

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Nov 07 2025

Should l Buy MERL?

Bithumb MERL Suspension Announcement: Bithumb, South Korea's leading cryptocurrency exchange, will temporarily suspend MERL transactions starting November 7th at 12:35 p.m. UTC to facilitate essential network upgrades aimed at improving trading efficiency and security.
Impact on Traders: During the suspension, users cannot deposit or withdraw MERL tokens, but their existing holdings will remain secure in their Bithumb wallets. Traders are advised to complete any urgent transactions before the deadline and monitor Bithumb's official channels for updates.
Benefits of Network Upgrades: The upgrades are expected to enhance security, improve transaction speeds, reduce fees, and introduce new functionalities, ultimately benefiting all users despite the temporary inconvenience.
Preparation Tips for Traders: Traders should finalize pending MERL transfers, explore alternative trading pairs, and stay informed through Bithumb's announcements to navigate the suspension effectively.

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Technical Analysis for MERL

Technical Sentiment Analysis for Merlin Chain (MERL) As of , Merlin Chain (MERL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MERL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, MERL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Merlin Chain (MERL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0125	0.026	0.0386	0.052	0.0646	0.0781	0.0906
Fibonacci	0.026	0.0359	0.0421	0.052	0.062	0.0681	0.0781

About MERL

What is Merlin Chain and MERL? Merlin Chain serves as a Layer 2 solution for Bitcoin, incorporating essential components like ZK-Rollup networks, decentralized oracle networks, and fraud proofs within the Bitcoin chain. Its primary objective is to empower the native assets, protocols, and application ecosystem of Bitcoin Layer 1, facilitating ongoing innovation and maximizing asset potential on Layer 2 networks. MERL is the native token of Merlin Chain which is used for: Staking: Staking $MERL contributes to the overall security of Merlin Chain. Collator Delegation: $MERL holders have the option to delegate their holdings with collators or stake $MERL to run their collators to secure the network. Network Fees: Merlin L3 has the option to use $MERL to pay transaction fees. Native Liquidity & Collateral: $MERL token can be used in the Merlin ecosystem to serve as native liquidity and collateral. How Many MERL Coins Are There in Circulation? Merlin Chain will have a total supply of 2,100,000,000 MERL at genesis, and will be delivered to the public, Merlin Eco, early supporters and initial core contributors. Who Is The Founder Of Merlin Chain? Merlin Chain is a product line of Bitmap Tech (formerly known as RCSV). Bitmap Tech has previously launched products like Bitmap Explorer and BRC-420. Bitmap Tech has long been dedicated to the Bitcoin ecosystem which was founded by Jeff. Before founding Bitmap Tech, Jeff had been an entrepreneur in the Web2 industry for over a decade, and has garnered funding from industry giants such as Sequoia Capital, IDG Capital, BAI Capital, 5Y Capital, and Vitalbridge, paving the way for one success after another. Although he had always kept an eye on the Web3 world, he never quite convinced himself to venture into the Web3 domain. It wasn't until 2023, when he saw Ordinals and the BTC ecosystem, that he decided to start constructing in the Bitcoin ecosystem in May 2023, when there was still bias against Ordinals. Where Can I Buy MERL? MERL is available for trading on OKX, Bybit, Gate, Kucoin, Bitget, with pairs for several mainstream cryptocurrencies and stablecoins.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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