The recent precise experimental determination of the monopole transition form factor from the ground state of ^{4}He to its 0_{2}^{+} resonance via electron scattering has reinvigorated discussions about the nature of this first excited state of the α particle. The 0_{2}^{+} state has been traditionally interpreted in the literature as the isoscalar monopole resonance (breathing mode) or, alternatively, as a particle-hole shell-model excitation. To better understand the nature of this state, which lies only ∼410 keV above the proton emission threshold, we employ the coupled-channel representation of the no-core Gamow shell model. By considering the [^{3}H+p], [^{3}He+n], and [^{2}H+^{2}H] reaction channels, we explain the excitation energy and monopole form factor of the 0_{2}^{+} state. We argue that the continuum coupling strongly impacts the nature of this state, which carries characteristics of the proton decay threshold.
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