Monad (MON) Breaks the Airdrop Curse With 35% Surge: What’s Next?
Monad (MON) surged over 35% after launch, but bearish signals from perp traders and weakening volume suggest potential short-term price pressure.Summary
Monad's (MON) token experienced a significant initial surge of over 35%, defying the typical rapid decline seen after airdrop-led token generation events (TGEs) in weak markets. However, early excitement is waning, and current short-term indicators point toward potential downward pressure. Perpetual contract data shows a strong bearish shift, with top 100 addresses cutting net long exposure by 118%, and Smart Money remaining significantly short-biased ($103.94 million). Furthermore, 1-hour chart analysis indicates weakening big-money flow, as the Chaikin Money Flow (CMF) failed to break its upper trendline, and On-Balance Volume (OBV) is flattening, suggesting a lack of strong buyer support. Key price levels to watch are $0.044 for upward continuation and $0.029 for downside risk, as significant token unlocks could lead to continued volatility.
(Source：BeInCrypto)