Ignis Protocol

Monad's upcoming unlock is putting pressure on $MON, but here's what I think might happen next. MON is already down over 50% from its October peak, but something caught my attention while looking at the charts. The price keeps dropping, yet the selling volume isn't really increasing. Are sellers running out of steam, or are buyers just waiting? We also need to consider the current market. BTC is struggling, altcoins are bleeding, and MON has a massive unlock coming on November 24. Not exactly the best combination. Here's what I'm watching: - $0.016 is an important level. If we lose it, things could get uglier. - A recovery above $0.0185–$0.020 with stronger volume would make me a lot more optimistic. But what interests me the most is what happens AFTER the unlock. I think a lot of the fear is already being priced in. If the actual selling pressure turns out to be lower than expected, we could see a REALLY NICE recovery. Of course, that depends on the broader market too. For now, I'm expecting more volatility before November 24. I'm not convinced we've found the bottom yet, but I also wouldn't be surprised if the unlock itself ends up being less bearish than everyone expects. Sometimes the anticipation is worse than the event itself.