Monad [$MON] has had one of the most struggling performances among crypto tokens in recent times. In the past year alone, the asset has posted gains of just 11.58%, according to CoinGlass, and more recently, the asset has dropped 13% in the past 24 hours.
Chart analysis using the 1-day time frame shows that while the outlook for $MON appears grim as the price continues to drop, there’s a bullish probability that could still hold.
The present decline in price has now pushed the asset into a demand zone on the chart marked in blue, where there’s a high probability of buy-side liquidity in that zone.
