Why is Monad suddenly surging?
The crypto market, despite being under pressure, has seen Monad (MON) significantly outperform its competitors over the past 24 hours. This impulsive rally is no coincidence: it follows the official announcement of the Nitro program, an accelerator backed by $7.5 million designed to boost the ecosystem. This news acted as an immediate catalyst, awakening investor interest.
The impact on volumes was instantaneous. The 24-hour trading volume exploded by over 150%, surpassing $160 million. Such a liquidity injection demonstrates massive and concentrated buying pressure. However, the current price, oscillating around $0.0193 – $0.0196, shows that sellers are already beginning to regain control after the initial spike.
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Can MON’s price really break through the $0.021 resistance?
Despite the prevailing optimism, technical analysis reveals major obstacles. The token attempted a breakout above the key zone but was violently rejected as it approached $0.021. Indeed, several 9H order blocks appear up to $0.285.
However, at the same time, MON has initiated a breakout from its bearish trendline. As long as it maintains the support at $0.175, hopes for a retest of $0.22 remain alive.
If the bulls fail to regain control quickly, the critical support level to watch sits between $0.0185 and $0.0190. A break below this threshold would invalidate the short-term bullish structure and could trigger a drop toward $0.017. Moreover, on-chain data highlights a fundamental risk: with a massive total supply of 100 billion tokens and scheduled unlocks ahead, structural selling pressure remains a powerful brake on any parabolic surge.
Imminent correction or simple consolidation before the explosion?
The situation is tense for Monad traders. On one hand, the enthusiasm around the ecosystem and the rising TVL (Total Value Locked) provide a solid bullish foundation. On the other hand, the inability to convert above $0.021 calls for caution. Indicators suggest the market might need to breathe before attempting another breakthrough.
For investors, the strategy now hinges on defending support. If MON manages to stabilize above $0.0185 and digest the selling pressure, a new assault on the highs is conceivable. But beware the trap: a failure here could transform this rally into a violent and volatile retracement.
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