$MON will break DOWN📉🔻 out of this symmetrical triangle, well below $0.02.
Here are the reasons:
1)
$BTC is at $77k, i expect it to come down to ~60k at least once and drag everything with it
2)
$MON unlock is coming in november.
11.2b tokens, 11.2% of total supply, the circulating supply will double in one day.
Those with tokens unlocked will have their conviction tested, since they will get their tokens at the dip, at least time wise
3) Overall we are in a bear market, altcoins keep getting outperformed by
$BTC.
Currently top caps like
$ETH and
$BNB are leading up, while
$MON, low caps and memes are lagging.
They will catch a bid in one of the next legs up, not telling you to time buys but that's my view
VERDICT: My ultimate target for the breakout is between 1.6c-1.7c
IF
$MON keeps dropping to or even lower than 2c while bitcoin hits new highs at 85-90k, this target will move to 1.4-1.6.
After we will see a bounce, at least short term
Moment of truth for
$MON
BREAK UP 📈?
or
BREAK DOWN📉?