MON has recently been capped by resistance at 0.0375, with a clear triple-top technical pattern and key moving averages breached. Short-term capital inflows are under pressure, with only large holders at the bottom maintaining their positions. If the price fails to hold above 0.035, there is a risk of retesting support at 0.028. Current on-chain data indicate a rise in institutional wait-and-see attitude, but core investors are showing clear signs of increasing their positions, providing medium- to long-term bottom protection. It is recommended to control positions in the short term and focus on the performance within the 0.028–0.035 range. For the medium to long term, gradually buy on dips in conjunction with protocol upgrades and ecosystem cooperation progress, and wait patiently for a structural rebound.

This week, MON has faced multiple rejections at the 0.0375 level. After reaching a high of 0.03737 on April 10, a clear triple-top structure has formed on short- and medium-term charts, and the price quickly retreated after failing to break through resistance. Since hitting a low of 0.0336 on April 17, downward momentum has continued, dropping to 0.03068 as of April 24—a decline of over 18% from the peak. Meanwhile, daily trading volume and open interest have both shrunk in tandem, reflecting stronger market caution and short-term selling pressure dominance. Overall, the short-term trend remains under pressure; if the price does not rebound above 0.035, it could further test the 0.028 support level.

Monad ($MON) has formed a triple top pattern on lower timeframes, signaling potential short-term weakness as it dropped over 7% to $0.0336 after failing to break a key resistance near $0.0375. The coin broke below its 50-period moving average, increasing the risk of a further decline toward the 200 MA at $0.0268, a 20% correction. Trading volume and open interest have decreased, indicating cautious market sentiment and selling pressure.

Monad Price Analysis: MON Triple Top Structure Concerns Amid 7% Drop

Monad (MON) price dropped about 5% on April 24 due to profit-taking and capital rotation into Bitcoin, trading near $0.03099 with a market cap of $366.5 million. Despite a 24% gain over the past 30 days, the token faces bearish pressure after failing to break resistance between $0.035 and $0.041. Technical indicators show a short-term bearish trend, but ongoing protocol updates and partnerships signal long-term growth amid cautious market sentiment following a related DeFi security breach.

Monad (MON) Price Nears $0.0309 Amid Profit Taking

On-chain data reports show that the net flow of spot transactions has been negative, indicating that retail investors and short-term funds are inclined to reduce positions near current price levels. Although total futures open interest has slightly increased, the funding rate for long positions continues to decline, suggesting that institutional long interest is cooling. In the options market, demand for hedging strategies has slightly decreased, and volatility indicators have stabilized, reflecting a moderate calming of investor panic over sharp price swings. Additionally, U.S. Bitcoin spot ETFs have continued to receive net inflows, indirectly boosting overall crypto asset liquidity. However, as a mid- to small-cap token, MON has relatively limited linkage to these broader effects.

Glassnode's latest report highlights intensified market tug-of-war with spot CVD turning negative, indicating increased selling pressure and emerging bearish sentiment. Futures show rising risk appetite but declining long funding rates, reflecting growing bearishness. Options suggest reduced downside protection demand and neutralizing volatility. Meanwhile, US spot ETFs see rising MVRV and inflows, boosting investor interest and supporting cautious optimism amid stable long-term holder confidence.

Glassnode: Market bullish and bearish struggles intensify, spot CVD turns negative indicating increased selling pressure, but ETF inflows provide support.

Social media monitoring shows MON ranks among the top three DeFi projects, with 8,700 related posts and 1.4 million interactions, reflecting a highly active community discussion atmosphere. Although its overall popularity still trails top-tier projects, the increase is significant compared to earlier periods, indicating ongoing interest in its ecosystem from retail and followers. While such buzz may not directly drive price increases in the short term, it helps maintain bottom-level liquidity and potential momentum for follow-up buying.

Decentralized finance (DeFi) projects have seen a surge in social media activity, with Solana ($SOL), Ripple ($XRP), and Monad ($MON) leading in engagement. Solana tops with 65.2K engaged posts and 32.7M interactions in 24 hours, followed by Ripple with 16.9K posts and 10.3M interactions, and Monad with 8.7K posts and 1.4M interactions. Other notable projects include Chainlink, Celo, Zcash, Tezos, Avalanche, Raydium, and VeChain, reflecting growing investor confidence.

DeFi Projects Surge in Social Activity, Solana, Ripple, and Monad Lead

Latest on-chain monitoring shows a major address holding over 81 million MON tokens, worth about $2.5 million USD, representing a significant proportion of its portfolio. The address has also allocated to various other assets over the same period, indicating a diversified asset allocation approach. However, its MON holdings have not shown significant reduction. This partly reflects institutional or 'whale' confidence in the current price range and provides some buying support for the token price. If such addresses continue accumulating, it could further strengthen the mid- to long-term bottom.

According to Lookonchain, the largest on-chain ASTER long address 0x1527 is currently long on CHIP while also holding long positions in MON and TAO. The total positions include 24.93 million ASTER ($16.72 million), 36.18 million CHIP ($3.43 million), 81.55 million MON ($2.52 million), and 9,026 TAO ($2.22 million), totaling approximately $24.89 million.

The largest on-chain ASTER long address is also long on tokens such as CHIP, with a total position of $24.89 million.

The largest on-chain ASTER whale "0x1527" has started accumulating CHIP, currently holding 36.18 million CHIP valued at approximately $3.43 million. The whale's total portfolio includes 24.93 million ASTER (~$16.72 million), 81.55 million MON (~$2.52 million), and 9,026 TAO (~$2.22 million), with a total value exceeding $28 million.

The largest on-chain ASTER bull whale has started positioning in CHIP, with a position value of approximately $3.43 million.

Despite the recent price correction, the project's protocol function updates and several ecosystem collaborations have been progressing steadily, expected to boost practical use cases and token demand upon rollout. Coupled with more than 24% cumulative gains over the past 30 days, it shows that market pricing has already partially reflected future expectations. If major partners or new applications go live later, it may trigger a new wave of value discovery, enabling the token to gradually bottom out and usher in a new upward breakout amid consolidation.

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