Unlike last week,$MON is looking much more interesting this week.
It has recovered roughly 24% from its recent low and is now testing the key resistance zone at $0.0227.
The structure remains bullish, with price trading above the major moving averages, but a few signals suggest caution:
• Volume has declined while price moved higher
• Stochastic is in overbought territory
• Open Interest remains stable, with no aggressive capital inflows
• The market is still trading without a specific Monad catalyst
For me, $0.0227 is the level to watch.
A breakout with strong volume could open the door to $0.0238.
If $0.021 fails to hold, the risk of a long flush and a deeper pullback increases.
The chart has improved significantly. Now it needs confirmation.
As always, this is not investment advice. Do your own research and have a great week ahead.