$MON Heat level declines, traffic decreases, sentiment weakens, prices are under pressure, capital withdraws...

Monad: After the heat dissipates, only structural short selling remains.

The upward logic of $MON has ended, and the current market is no longer driven by narrative but maintained by the game of existing capital. The team comes from Jump, and the core strategy of such projects is not ecological sedimentation but financing scale, valuation management, and liquidity recovery after listing. The paths of Pyth and Wormhole have already provided examples; Monad has not deviated from this model, just executed it more directly and quickly. The pre-market FDV has been pulled to 7 billion USD, and the ecological project aPriori has called out 2 billion. This is not growth potential but rather selling the future price increase in advance. For later participants, this means limited upward space and risk exposure in advance.

As sentiment retreats and incremental capital is absent, the market naturally shifts from trend patterns to structural price fluctuations. The current Monad is not about 'waiting for a breakout' but 'looking at the position'; as long as the price level is not broken, it remains an arbitrage target; once the key range is lost, its trading significance will quickly diminish.

The current price is at the 0.02926 level, in the lower part of the previous round's decline range. Each rebound struggles to break through the structural high of 0.03332, while 0.02858 continues to hold, forming a weak oscillation pattern. In terms of indicators, although the MACD has shown some recovery, the price is suppressed by short-term moving averages, and the volume is insufficient to form a reversal structure. This combination means: the rise is not a trend, just a pullback; the decline is the direction.

The key range is already very clear:
0.02977 is the short-term reversal threshold; if it cannot return, the rebound only counts as a repair.
0.0304-0.0306 is the bearish gap area; if it cannot be filled, there will be no bullish extension.
0.02858 is the current defensive position; once it breaks, selling pressure will continue to release, with lower targets sequentially at 0.02771 / 0.02726 / 0.02592.

As long as the price is kept below 0.02977, it is reasonable to stand on the bearish side; once 0.02858 is lost, the bearish initiative will further strengthen.

The direction is already laid out here; the price is just a process of confirmation.

{future}(MONUSDT)