Monad (MON) has extended its sharp recovery as stronger market activity meets fresh stablecoin plans for its blockchain. MON traded near $0.03291, up 23.35% over 24 hours. The token also gained 34.78% over the past seven days.
Trading volume reached $125.3 million, while its market capitalization approached $388.6 million. The latest rally comes as StraitsX prepares to bring its Singapore dollar stablecoin XSGD and dollar stablecoin XUSD to Monad. Consequently, traders now have both technical and fundamental developments to watch.
MON has pushed above several major Fibonacci levels on the daily chart. The move also lifted the token well above its major exponential moving averages.
Price recently hovered around $0.03236 after breaking through previous resistance. The $0.03305 level now represents the immediate technical hurdle. This level marks the 1.0 Fibonacci extension and could determine the next move.
A daily close above $0.03305 could expose the $0.03400 to $0.03500 region. However, failure to clear resistance could trigger short-term profit-taking.
The first major support sits near $0.03022 at the 0.786 Fibonacci level. Below that, $0.02799 provides another important support zone. The $0.02643 level also offers a deeper retracement area.
Additionally, MON remains above its 20-day EMA at $0.02690. The 50-day, 100-day, and 200-day EMAs sit at $0.02547, $0.02468, and $0.02427.
Monad’s derivatives market has also expanded significantly during the recent rally. Open interest climbed to $147.09 million, marking its highest level since April’s major spike.
OI remained mostly between $55 million and $75 million throughout June and July. However, activity increased during August before accelerating sharply in late September.
Moreover, the rising OI suggests traders have added substantial leveraged positions. This development can support stronger price moves when momentum remains favorable.
However, higher leverage can also increase liquidation risks. A sudden OI decline could therefore signal position closures or forced liquidations.
StraitsX plans to launch XSGD and XUSD natively on Monad in early 2027. The planned deployment could expand payment and settlement activity across the network.
Significantly, XSGD would become Monad’s first Singapore dollar stablecoin under the current plan. StraitsX processes roughly $70 billion in annual stablecoin transaction volume.
The company also operates through an affiliate holding a Major Payment Institution license in Singapore. Hence, the planned deployment could strengthen Monad’s connection with regulated digital payments.
MON’s exchange flows have generally remained close to neutral. However, activity shifted noticeably at several points throughout the year.
Net outflows intensified during late March and early April. Flow conditions later stabilized before turning positive around May.
Additionally, MON recorded a major inflow spike during July. The largest increase exceeded $100 million and indicated significant exchange movement.
By October 1, netflow stood near $124,000. That figure suggests comparatively modest exchange activity despite MON’s recent price surge.
Key levels remain well-defined heading into October:
Upside levels: $0.03305, $0.03400, and $0.03500 as immediate hurdles. A decisive breakout above $0.03305 could extend toward higher levels as bullish momentum strengthens.
Downside levels: $0.03022 support, followed by $0.02799 and $0.02643. The $0.03022 level remains particularly important because it represents the 0.786 Fibonacci retracement.
Resistance ceiling: $0.03305 is the key breakout level to flip for continued bullish momentum. A sustained move above this level could strengthen the current recovery structure.
The technical picture suggests MON is extending a bullish continuation after breaking above several Fibonacci levels. Price remains above the 20, 50, 100, and 200 EMAs, keeping the broader trend constructive. Rising open interest also points to stronger market participation, although increased leverage could amplify volatility.
Monad price prediction for October hinges on whether buyers can defend $0.03022 while challenging the $0.03305 resistance. A confirmed breakout above $0.03305 could open the path toward $0.03400 and $0.03500.
However, rejection at resistance could trigger profit-taking toward $0.03022. A deeper decline could expose $0.02799 and $0.02643.
Additionally, StraitsX’s planned launch of XSGD and XUSD on Monad in early 2027 introduces a potential ecosystem catalyst. Consequently, network adoption developments could become increasingly relevant alongside MON’s technical structure.
For now, MON remains in a pivotal breakout zone. Price strength above $0.03305 and sustained participation could shape the next major move, while losing $0.03022 would weaken the bullish setup.
