The altcoin Monad [MON] has exhibited remarkable bullish strength recently, breaching the key $0.0314 resistance level. Analysts note this breakout, supported by rising volume, signals market conviction. The next target is the supply zone between $0.046 and $0.048 near its all-time high, though the overbought RSI suggests a potential short-term pullback.
Monad has rapidly risen past local resistance levels to continue its uptrend, a move attributed to accumulation and steady buying pressure. The breakout past the psychological $0.03 resistance was accompanied by increased trading volume.
The altcoin managed a bullish internal structure break on the daily timeframe in mid-February. It has set higher lows since then, maintaining the upward trend.
The closest cluster of long liquidation liquidity is at $0.025, with a larger pocket between $0.02 and $0.0218. From $0.025 to the current market price near $0.035, there is a vacuum of notable long liquidations.
Short liquidations up to $0.04 could provide fuel for a short squeeze in the coming days. Meanwhile, demand zones on shorter timeframes are identified at $0.03 and $0.033.
Traders can remain bullishly biased on MON until the $0.02912 level is breached. A drop below this point would break the hourly chart’s bullish swing structure. This would signal a potential retracement or failed breakout.
