Monad (MON) could be ranked among the market’s biggest gainers if the bullish strength continues, especially since the asset posted a 13% gain over the past day, placing it among the leading performers in the cryptocurrency market over the past 24 hours.
However, the rally still faces a major hurdle, as the price is trading within a resistance block that is expected to culminate further upside. The main question is whether Monad can break through this level and open the way to an all-time high.
The monad rises against the background of accumulation
The recent surge in accumulation has supported MON’s bullish momentum, and current indicators suggest that this trend may not slow down soon.
The Accumulation/Distribution indicator continues to trend upward, indicating that as prices rise, investors continue to buy. Trading volume also strengthened, exceeding 2.69 billion over the past day.
Accumulation only tells part of the story. The Money Flow Index (MFI), which tracks capital inflows and outflows, indicates stronger inflows over the same period.
MFI is still just above the 80 level and trending higher, suggesting that investors are gearing up for further upside gains.
While this outlook remains bullish, market volatility requires close attention, as sentiment can shift quickly, especially as the broader market continues into a bearish phase.
Warning signs appear
Bullish positioning comes with caution. This is shown by the Bollinger Band indicator, which measures whether an asset is overbought or oversold Moon It has entered the overbought zone.
This level, marked by the upper range, indicates that buying pressure may be weakening, which could lead to a pullback towards lower levels, but not necessarily an immediate reversal.
This is in line with the resistance area on the chart, which can act as a strong barrier and push prices down. In this scenario, MON could form lower lows or continue in the range, with the latter likely to occur if accumulation continues to build.
On the other hand, a breakout would significantly strengthen the structure of MON. The price will face less resistance on the upward path, as there are still fewer upper supply zones.
Is it likely to be an all-time high?
The move towards a new all-time high depends on several factors, with capital flow remaining the most important.
The rise from the current level to the all-time high represents an increase of approximately 56%. With a market cap of $1.52 billion, that would require an additional $851 million, pushing the total value toward $2.37 billion.
For this to happen, bullish sentiment must align across multiple fronts. Spot market accumulation should remain strong, perpetual futures should continue to support long positions, and broader crypto market sentiment should turn bullish or stabilize.
At present, short-term data from the perpetual and spot markets suggest that the bulls are still in control. Over the past 10 days, MON’s perpetual inflows have reached $12.88 million, while spot market inflows have stabilized at $7.31 million over the past five days, according to Queen Glass.
Final summary
- MON extends its run as accumulation rises again, while capital flow into the market continues to rise.
- The main resistance hurdle remains the critical level to watch in determining whether MON can sustain a significant price rally.
