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Monad Eyes Weekly Breakout as Major Support Holds

Monad Eyes Weekly Breakout as Major Support Holds

CryptoNewsNetCryptoNewsNet2026/07/03 14:15
By:CryptoNewsNet
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Monad Eyes Weekly Breakout as Major Support Holds

Monad Eyes Weekly Breakout as Major Support Holds image 0  thecryptobasic.com 7 m
Monad Eyes Weekly Breakout as Major Support Holds image 1

Monad has held a key support level on higher timeframes, and this could open the path for a subsequent trendline breakout.

After two weeks of sustained downtrend, Monad ($MON) appears to have reached a bottom. This base is a long-standing support area that has cushioned weak price action several times in the past, boosting confidence that it will hold.

Monad Holds Weekly Support

Last week, $MON closed at $0.0186 after reaching a low of $0.0183. This close fell within a strong support range between $0.0184 and $0.0158 on the 1-week chart.

Notably, this demand zone has a long history of supporting prices during periods of weakness. On three prior occasions, it helped Monad establish a base during downtrends and provided the momentum for a rebound.

The first was in mid-December 2025, when post-launch selling pressure kicked in. Monad crashed from around $0.487 to a low of $0.165 on December 18. There, buyers stepped in and sparked a short-term rebound higher.

In February, $MON joined the broader crypto market downtrend to the support level again. Specifically, it dipped to a low of $0.0158 before bottoming, as the support proved too hard to overcome. The last retest of this support was in early June, when Monad dropped to $0.0180 but quickly rebounded.

Last week, the coin tested the demand zone again, and as always, buyers stepped in to form a bottom. The attention now shifts to how high Monad can push from here.

Monad Eyes Weekly Breakout as Major Support Holds image 2 Monad 1W Chart Analysis

Support Rebound Shifts Focus to Trendline Breakout

With the area underneath providing support, Monad has faced resistance above. Prices have repeatedly been rejected by a descending trendline, capping earlier recovery attempts.

This dynamic resistance first forced a higher price rejection in November 2025, when an attempt to break bearish structure stalled at $0.080. $MON continued to correct, subsequently bottoming at the support highlighted earlier.

Another recovery attempt in May ended at $0.0365, also aligning with the descending resistance trendline. Following the recent bounce from the support, attention has now turned to this higher timeframe supply zone.

Notably, $MON has begun to compress between the upper resistance and lower support as consolidation tightens. This suggests that a breakout is becoming closer. Should the current upward momentum persist, the coin could eye a breakout from this 8-month-old structure.

$MON Breakout Target

Monad is up nearly 10% this week. However, it would need to grow by another 37% from the current price of $0.0204 to reach the resistance line near $0.0280. Breaking above this level with strong volume paves the way for higher prices.

Typically, a descending trendline breakout initially targets its highest price point, bringing the November 2025 high of $0.080 into focus. From here, this represents a 292% increase.

Meanwhile, for this to happen, Monad would have to keep holding the current support and break out from the descending trendline. Failure to do so invalidates a sustained uptrend in the short term.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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