🐻 $MON charging ahead in this bullish wave with some real steam behind it. But honestly, I'm picking up on a few red flags that scream "possible pullback incoming". I'm calling it cautiously bearish for the near term – a dip seems likely before any fresh legs.
Those last few 1-hour candles were wild during the push up to 0.0285 – one hit like 780 million in volume. Then the follow-ups dropped off a bit, down to around 756 million, which feels like folks cashing in profits. Now with volume easing up overall, it's like the engine's losing revs, momentum-wise.
On capital flows, it's a mixed bag. Spot net flow looks okay short-term – positive bumps like +500k in the last hour and +462k over 24 hours – but stretch it to 3, 5, or 7 days, and it's negative territory. That tells me there's some sneaky long-term selling building up under the surface.
Contracts are more dramatic: solid +3.2 million inflow in the past 24 hours, but the recent 2-hour, 6-hour, and 8-hour windows show outflows, like -619k in just 2 hours. Smells like short-term longs getting shaken out or positions unwinding fast.
Entry shorts $MON : I'd consider shorting near Resistance level around 0.0267, or jump in if it cracks below Support level at 0.0255 with a nasty bearish close on the 1H candle to confirm.
Stop-loss about 3% above your entry – for example, if you enter at 0.0267, set it around 0.0275 to handle the swings
For targets $MON , shoot for Support level near 0.0250 or even a bit lower.
But hey, if there's no solid breakdown, I'd just chill and watch from the sidelines. Nnyone seeing something different?
#MON #MONUSDT #Monad