Monad posted a short-lived rally over the weekend, climbing 13.92% from a Saturday low of $0.0245 to a Sunday high of $0.0279. The move came as Bitcoin bounced toward the $84,000 supply zone, lifting altcoins across the board. The altcoin market cap has risen 2.88% since Friday, October 9, to about $1.13 trillion. That shift gave buyers some room, though sentiment is not fully bullish yet.
Longer-term pressure remains
The weekend bounce has not erased Monad’s bigger problems. The token is still stuck below a key long-term supply zone. Earlier in October, traders and crypto influencers on X called it an easy token to short. Entrepreneur and former asset manager Harley Lewis Foote warned that a November mega unlock could push the token lower. Since October 5, MON is down 21.3% after being rejected from the $0.033 supply zone.
For swing traders, the important long-term levels are $0.016 and $0.0375. A break above or below either could set the next direction. The gains since July suggest the market is still cautiously bullish, but the recent rejection at $0.033 is a clear warning.
Liquidity and fair value gap
There is a sizeable imbalance above the current price. The midpoint of that fair value gap sits near $0.0297, close to a cluster of short liquidations around $0.030. A move into that area could squeeze short positions and force some traders to cover. If that happens, Monad may test $0.030 to $0.033 again.
The question is whether spot and perpetual markets have enough demand to hold the uptrend. Without that demand, the bounce could fade. A breakdown below $0.0209 would shift the daily structure bearish and weaken the case for more upside.
What to watch next
In the coming days, traders will watch how MON reacts near $0.030 to $0.033. A strong rejection there would support the bearish view. A clear break and hold above that zone could open the door to the $0.0375 level. For now, the market remains cautious. The altcoin bounce is real, but it is still tied to Bitcoin’s next move and broader risk appetite.
Monad traders may get another short-term squeeze, yet the November unlock remains a larger threat. Until the token reclaims $0.033, the bears have the stronger argument. Still, a push toward $0.030 would not be surprising, and the reaction at that level will matter more than the weekend rally itself.
