Monad (MON) jumped 13% in the 24 hours leading up to 23:31 UTC on April 8, bringing its price near an all-time high as trading volume topped $2.69 billion.
"The surge in buying pressure for Monad appears to be driven by speculative interest, as the token approaches a key technical milestone," said a crypto analyst at a proprietary trading firm. "We are seeing significant spot buying on major exchanges."
Data from CoinGecko confirms the price move, which was accompanied by a sharp increase in trading activity across Binance and other large-volume platforms. The $2.69 billion in 24-hour volume represents a 150% increase compared to the previous day's average. This rally also triggered over $5 million in short liquidations in the last 12 hours, according to data from Coinglass, removing sell-side pressure and adding to the upward momentum.
The move brings Monad to a critical juncture. A sustained break above its previous all-time high could attract a new wave of investment and establish a higher price floor for the token. However, failure to break this resistance could lead to a sharp correction, as traders who bought at lower levels may look to secure profits. The price action of Bitcoin, which has been trading sideways, could also influence Monad's trajectory.
This article is for informational purposes only and does not constitute investment advice.
