Panjang

$MON - Rounded Bottom Formation

MONUSDT | 1D

The chart is finally starting to show signs of a strong recovery.

Rounding Bottom Formation
Price has developed a clear U-shaped accumulation phase, suggesting that selling pressure has been absorbed and accumulation is likely taking place.

Breakout Level:
Price has broken above its local resistance around 0.030, which is now acting as a key support zone for continuation.

We could still see a push toward 0.034–0.035 in the short term. If we get a slight rejection there but price manages to hold 0.029–0.027, that would confirm a clean breakout and successful retest.

Potential targets:
0.038–0.040
0.045–0.050

Invalidation:
The thesis is invalidated if price drops below 0.0245

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