May be......
Did you use the genuine H-P ink or some substitute or reload?
In the plotters, they have an ink which is used to going down onto mylar. The cartridges are rather pricey at about $38 each locally. We had several of then sent out for $5 reloading years ago to save a buck or so. They work OK on paper, but gave same results as mentioned when used on mylar. If you can get them to dry, the ink will smudge also.
As to small inkjet printers, you need to consult H-P expert as to proper ink cartridge for plastics. I used a Techjet a few years ago, and they had a different cartridge between paper and myler. Each gave a different appearance when used.
I have only had good luck with a new cartridge in our 650c and 750c plotters.
I just know you have cleaned the Monocoat well before trying, right? If you are trying it on silkspan, you have to iron it before using.
Wm.