MERL: Mayer Multiple
Merlin Chain Mayer Multiple was 1.27 on 10 Nov 2026 (latest daily value).
The Merlin Chain price divided by its 200-day simple moving average: how far the price has run above or fallen below its average of the last 200 daily closes.
Why use it. The 200-day average is the most watched long trend line. As a ratio it reads the same at any price, so stretches above and below the trend can be compared across years. How to read it. Above 1 the price is above its 200-day average, below 1 under it. Readings far above the coin's usual range have come in overheated rallies, far below in capitulations; each coin has its own range, so compare the reading with the chart's own history. It describes stretch, not where the price goes next.
Calculation. Daily close ÷ the mean of the last 200 daily closes (the day included; a missing close leaves the 200 days that contain it empty). The open day uses its latest price with the last 199 closes. Daily closes are the published MERL daily price chart (CryptoKeyhole's own index of public exchange markets; a day's close is its last hourly close). Closed days take the finality of the price; the open day is a partial from the latest hourly close, recomputed every half hour.