Monad's Buying Spree Won't Quit—$20M Later, Bulls Are Staring Down Resistance Like It's a Challenge

Monad [MON] is throwing around some serious weight lately, posting a 13% gain over the past day and positioning itself among the market's top performers in the last 24 hours. Not bad for a Tuesday. But here's the thing—there's a resistance block standing between MON and its dreams of all-time high glory, and it's not moving on its own.

So can MON break through? The accumulation data says the bulls are certainly trying.

The Accumulation/Distribution indicator keeps trending higher, which in crypto terms means as the price climbs, people keep buying. Shocking, we know. Trading volume has also picked up, exceeding 2.69 billion over the past day. Apparently, nobody told MON holders that patience is a virtue.

But accumulation only tells half the story. The Money Flow Index (MFI), tracking capital inflow and outflow, shows stronger inflows over the same period. MFI sits slightly above the 80 level and trends upward, suggesting investors are positioning for more upside. Which, fair enough.

Of course, bullish positioning comes with a side of caution. The Bollinger Bands indicator shows MON has entered the overbought region, marked by the upper band. This means buying pressure could weaken, potentially triggering a pullback toward lower levels—not necessarily a reversal, but definitely a "hold up and reassess" moment.

This aligns with that resistance zone on the chart, which could act as a strong barrier and push prices lower. In that scenario, MON could form lower lows or continue ranging, with the latter more likely if accumulation keeps building.

On the flip side, a breakout would significantly strengthen MON's structure. Price would face less resistance going up, as fewer supply zones remain overhead.

A move toward a new all-time high depends on several factors, with capital inflow remaining the most critical. A rally from current levels to the all-time high represents roughly a 56% increase. With a market cap of $1.52 billion, this would require an additional $851 million, pushing total valuation toward $2.37 billion.

For this to happen, bullish sentiment must align across multiple fronts. Spot market accumulation needs to stay strong, perpetual futures should continue supporting long positioning, and broader crypto market sentiment must either turn bullish or stabilize.

Current short-term data from both perpetual and spot markets suggests bulls are still running the show. Over the past 10 days, MON's perpetual flows reached $12.88 million, while spot market inflows held at $7.31 million over the past five days, according to CoinGlass.