Monad's native token, MON, experienced a 7% decline, trading near $0.021, as profit-taking followed a revisit to the $0.025 level. The token's price fluctuated between $0.020 and $0.023 on Tuesday, with potential resistance at $0.030. The decline comes amid broader market weakness in Bitcoin and major altcoins.Despite the recent dip, Monad is gaining traction with $100 million in private credit now verifiable on-chain, enhancing its appeal for institutional-grade decentralized finance. The Monad Foundation has also bolstered its leadership team, appointing three senior executives to drive institutional growth. These developments could support increased demand for MON as the ecosystem expands.Looking ahead, MON's price could benefit from protocol adoption and macroeconomic shifts, potentially breaking out to $0.030. However, negative sentiment around new layer 1 tokens may pose challenges, with support levels at $0.016-$0.010 if bearish trends persist.