MON is set to retest its all-time high | Credit: Hameem Sarwar
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Key Takeaways
Monad has maintained a bullish structure, with buyers in control after breaking above $0.028.
However, momentum is slowing, as indicators weaken and resistance holds at $0.032.
Falling OI signals weak conviction, making a breakout above $0.032 critical for further upside.
While many altcoins have retraced their gains this week, Monad (MON) has not.
At the time of writing, the Monad price is consolidating around the same range. However, it does not seem like the altcoin will experience a severe correction.
Instead, several indicators predict that MON could add 38% to its current value and retest its all-time high. Here is why.
After a period of consolidation around $0.022, buyers stepped in with strength.
This led to a decisive break above the $0.028 level, confirming a shift in market structure and establishing a bullish bias.
Since then, the price has continued to climb in a controlled manner.
However, the recent move into the $0.033 range has triggered a noticeable reaction.
MON’s price tapped this zone and pulled back almost immediately, suggesting the presence of strong sell-side pressure.
This area now stands as a key resistance level, and the rejection hints that liquidity above the highs has been targeted and partially cleared.
Momentum indicators are beginning to reflect this shift in pace. The Relative Strength Index (RSI) remains above the midline, indicating bullish conditions, but it is flattening, suggesting slowing momentum.
Similarly, the Awesome Oscillator (AO) is still in positive territory. Yet, the appearance of red histogram bars signals a gradual loss of buying strength.
This combination suggests that while the trend has not reversed, the market is entering a cooling phase.
In the near term, the market is likely to decide between continuation and consolidation.
If buyers defend the $0.028 region and reclaim the $0.031 level, another attempt to break above $0.033 becomes likely, potentially opening the door to further upside.
Upward Momentum Remains Fragile
Meanwhile, on-chain analysis paints a different picture. While Monad’s price is rising, the Open Interest (OI) has fallen by 21%, dropping to approximately $1.75 million.
Supporting this, the funding rate turned slightly positive at 0.0035%, indicating minimal long-side costs.
While exiting shorts fuels the current move, the lack of new positions limits conviction, and upside momentum may be fragile with elevated short-term volatility risk.
Looking ahead, the $0.033 zone remains a key level of resistance.
A break above this level could attract new buyers and potentially push Monad toward $0.037, where previous supply clusters may slow the advance.
MON Price Forecast: Bullish Breakout
MON is staging a notable recovery, with price reclaiming the $0.03 region after a prolonged downtrend.
More importantly, the asset has broken above its descending trendline, confirming a structural shift and the building of bullish momentum.
However, the move is approaching a critical inflection point.
The $0.032 level, aligned with the 0.5 Fibonacci retracement, now acts as immediate resistance. A sustained break above this zone could open the door toward $0.037 and $0.042.
However, rejection here would signal exhaustion and push the Monad price back toward the $0.0286 support level.
Meanwhile, momentum indicators lean bullish but are stretched. The Moving Average Convergence Divergence (MACD) remains in positive territory, reflecting strengthening trend momentum.
At the same time, the Money Flow Index (MFI) is nearing 90, indicating overbought conditions and a rising risk of a short-term pullback.
Therefore, while structure favors upside continuation, momentum is overheated. Bulls must clear $0.032. Otherwise, a cooldown phase becomes the more probable outcome.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
