According to reports from AMBCrypto, Monad [MON] rallied 13.92% over the weekend from the $0.0245 Saturday low to the $0.0279 Sunday high. The Layer 1 blockchain token experienced this bullish momentum alongside positive price reactions from Bitcoin and other altcoins on Sunday. The rally was supported by a Bitcoin bounce toward the $84k supply zone, which helped altcoins across the market climb higher, though short-term sentiment has not fully turned bullish once again. The short-term gains were likely driven by capital flows into the altcoin sector, boosted by the seeming turnaround in Bitcoin momentum.
As reported by AMBCrypto, the altcoin market cap has shown resilience with a 2.88% bounce to reach $1.13 trillion since Friday, October 9th. Despite the weekend gains, Monad has struggled to surpass a key long-term supply zone, with the token down 21.3% since October 5th, rejected from the $0.033 supply zone. Earlier in October, popular crypto influencers and traders on the X platform had called it "an easy token to short," highlighting the challenges the token faces in maintaining bullish momentum.
According to the analysis from AMBCrypto, the $0.016 and $0.0375 were identified as pivotal long-term levels to monitor. A break of either level would signal the direction of the trend. The mid-point of the FVG (Fibonacci Volume Gap) was positioned at $0.0297, which coincided with a cluster of short liquidations around $0.030 as highlighted by the 1-month lookback period liquidation heatmap. The report suggests that in coming days, a price move to this area could squeeze short positions out, though it remains to be seen if there is substantial demand in spot and perpetuals markets to keep the Monad uptrend going.
As reported by AMBCrypto, entrepreneur and former asset manager Harley Lewis Foote predicted that the November "mega unlock" could send the token into a downward price spiral. The analysis indicates that there was a sizeable imbalance overhead that could pose substantial threat to buyers. A breakdown below $0.0209 would signal a bearish internal structure shift on the daily timeframe. The gains made since July indicated that, for now, the expectations remained cautiously bullish, even though the $0.033 supply zone rejected MON bulls recently. The report concludes that in coming days, a bounce toward $0.030-$0.033 and the subsequent reaction would dictate which way swing traders should place their Monad bias.
