Foreign media reports that Monad's token MON rose 10.75% in the past 24 hours, reaching a high of around $0.02281. However, this rebound was not accompanied by a corresponding increase in trading volume; market participation actually declined significantly, leading to divergence in short-term price movements.
Trading volume shows both declines and rebounds.
The report noted that MON's trading volume declined by 59.67% during the same period, falling to $37.79 million. Rising prices with decreasing volume typically indicate that buying activity is primarily driven by a limited amount of capital rather than broader market participation.
Nevertheless, MON rebounded from its previous lows and held above the demand zone around $0.020. This price recovery suggests that, at least in the short term, buyers have regained some control.
Binance has large institutional holdings.
Binance derivatives data shows that major traders' sentiment remains bullish. CoinGlass data shows that among top traders' positions, 67.67% are long, while short positions account for 32.33%, resulting in a long-short ratio of 2.09.
This position structure indicates that significant funds are still betting on a continued rebound. However, the article also mentions that if the position remains unilaterally tilted, highly leveraged long positions will face greater pressure should prices fail to break through resistance levels.
The area around $0.024 has become the short-term focus.
From a technical perspective, the MON has broken upwards from the descending channel that had persisted for several weeks. At the same time, the Parabolic SAR indicator has moved below the price, indicating an improvement in short-term trend conditions.
The Relative Strength Index (RSI) has also rebounded from oversold territory to 43.73. Although it has not yet returned above 50, selling pressure has eased somewhat. The article suggests that if the MON index can find support above $0.024, the next potential test will be the resistance around $0.030; if the breakout fails, the price may remain in a corrective phase.
Funding rates remain cautious.
Unlike the rebound in the spot market, the derivatives market has not fully turned optimistic. The weighted average funding rate for open interest on MON is -0.0161%, indicating that short positions still dominate in the futures market.
This divergence means that stronger prices and bearish sentiment in derivatives coexist for the time being. If the MON index continues to rise, some short positions may be forced to close, leading to additional buying; conversely, if prices weaken again, the cautious sentiment reflected by negative funding rates may persist.
