Monad (MON) Price Eyes $0.032 Recovery As Network Activity Hits Record 

Monad (MON) faces near-term bearish pressure after a chart breakdown, though a recovery remains possible if buyers regain control. Meanwhile, record network activity highlights growing ecosystem adoption and user engagement, strengthening Monad’s long-term outlook as on-chain participation continues to expand.

At the time of writing, MON is trading at $0.02650 with a 24-hour trading volume of $38.36 million and a market capitalization of $313.33 million. Following the 5.36% loss over the last 24 hours, the MON price structure points to further loss, but network growth points to a bullish reversal ahead.

Source: CoinMarketCap

Also Read: Monad (MON) Breaks Downtrend: Bulls Eye $0.025–$0.030 Resistance Zones

MON Price Setup Hints at a Move Toward $0.032

According to the crypto analyst Crypto With Gopal, Monad (MON) is facing increased selling pressure after a bearish pennant breakdown appeared on the 1-hour chart. 

Trading near $0.02703, MON has moved below the pattern’s support, reinforcing the short-term bearish structure. If sellers maintain control, the breakdown could open the door toward the pattern’s projected downside target near $0.0220 in coming sessions.

Source: Crypto With Gopal’s X Post

Traders are keeping an eye on $0.0265-$0.0270 as the initial level of support, with the possibility of more declines if the bulls are not able to hold this level. 

Re-taking $0.0290 would ease the bearish bias and may result in a return towards $0.0320. Unless the resistance is taken back, MON could fall prey to further declines.

Monad Hits Record 34.9M Weekly Transactions

The data from Everstake further highlighted that a new milestone has been attained by Monad in terms of number of transactions per week, with 34,907,146 transactions recorded between August 17 and 23. 

This marks the best performance for the blockchain in the seven-day period since its inception. This increase is attributed to positive sentiment in crypto markets and increased use of the ecosystem.

Source: Everstake’s X Post

This also helps in building up the adoption narrative of Monad as more users engage in apps and transact with their assets on-chain. 

Increasing transactions indicate an increasing interest in the network, even if continuous usage is required for the same. If this keeps up, Monad will gain even more from the increased on-chain activity.

What Happens Next?

The MON price is likely to stay choppy while market participants focus on the $0.0265-$0.0270 support level. 

A break below would open up $0.022 for the bears, but a move above $0.029 would be a bullish indication to push for $0.032. However, further increases in transactions by Monad could add credence to the story of adoption.

Also Read: MON Price Eyes $0.025 as Monad Enters Top 10 RWA Blockchains

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.