Monad is showing some positive signs as money continues to move into its ecosystem. Its total value locked has reached a new high of about $868 million.

This is an important move because TVL gives us an idea of how much money is being used across a blockchain ecosystem. A rise in TVL can show that users and investors are putting more capital into the network.

Monad reached about $868.64 million in TVL on August 10. The figure later moved slightly lower to around $856.78 million.

Stablecoin supply is also moving higher.

The stablecoin value on Monad crossed $670 million. This is another sign that more capital is entering the ecosystem.

More stablecoins on a network can give traders more money that could later move into other assets. If part of this capital moves into MON then it could support the token price.

But there is one problem.

The price still needs stronger demand.

MON has been moving inside a bullish triangle pattern. The price is being pushed between a falling resistance line and a support area below.

MON is now trying to break above the upper part of this pattern.

A clean move above resistance could give buyers more confidence. It could also open the door for a stronger move toward new highs.

But a breakout is not guaranteed.

If buyers fail to push the price higher then MON could continue moving inside the pattern. Another possible outcome is a break below support which could send the price toward new local lows.

The current demand data is also not very strong.

Netflow over the past day showed that buying was slightly higher than selling. But the difference was only around $530K.

That is a small amount compared with the size of the wider ecosystem.

Over the past 15 days the total growth in demand was around $1.43 million. This shows that buyers are present but they are not yet pushing hard enough to create a strong price move.

Other market signals also give a mixed picture.

The accumulation and distribution indicator remains negative. Its reading is around -745 million. This suggests that selling pressure has been stronger in recent days.

The trend strength indicator is also giving a weak signal.

Its reading is around 15. A reading above 25 is usually seen as a stronger trend. So while the indicator is moving higher it still does not show strong momentum.

This leaves MON at an important point.

The blockchain is attracting more capital. TVL is at a new high and stablecoin supply is also rising.

But the MON price needs real buying pressure to turn those positive network numbers into a strong rally.

If demand increases and MON breaks above its resistance then the bullish setup could become much stronger.

If demand stays weak then MON may continue moving sideways even with strong TVL growth.

For now the story is simple.

Monad is attracting capital.

But MON still needs buyers.

The next major test is whether those buyers can push MON above resistance and keep it there.