$MON 🏎️ MON/USDT: Blockchain "Parallel EVM" Holding Strong or Entering a Dip?
Unlike $ZAMA with its upward trajectory, $MON (the native token of Layer-1 Monad – a tech marvel executing parallel transactions with a billion-dollar valuation, backed by Paradigm and Coinbase Ventures) is showing a pretty tight price structure this past week with a drop of -8.58%.
🔍 In-depth Price Action Analysis (1H Chart)
Brutal Liquidation Hunt: After attempting to maintain a recovery structure and reaching a short-term peak at 0.03010 USDT (on May 22), MON faced significant sell pressure from the market. The price decisively broke through old support levels, hitting a deep low at 0.02423 USDT.
Wick Reversal and Bottom Accumulation: At the candle wick area of 0.02423 USDT, buying pressure (Demand) emerged, helping the price bounce back to 0.02545 USDT. The 24-hour trading volume reached over 32M MON (~828K USDT) – nearly 3 times that of ZAMA, indicating large speculative flows are actively operating in this price range.
MACD Indicator: The MACD is currently sitting completely below the zero line (-0.00010), with the Signal line showing signs of flattening. This indicates that **selling pressure has temporarily stalled**, and the market is forming a new price base to reassess demand.
🔮 Scenarios & Trading Strategies for the Crew
Key Support Zone: *0.02400 – 0.02450 USDT. This is the last line of defense for the bulls. If this level is breached with a long-bodied 1H candle, MON will trigger a significant stop-loss wave and aim for deeper levels.
✅Recovery Trigger Point: MON needs to breakout and close decisively above 0.02650 USDT to break the current short-term downtrend structure.
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