The progress of this image is great to see. I like the character and the look of his face. It reminds me a bit of Skeksies in the dark crystal.
I do however have some thoughts on things you could do to improve the piece.
I agree with Sagadur that the curve of the neck could be a bit more elegeant, even if it is moving. I drew some lines indicating how I would do it maybe.

Another bit that is sort of strange is that the horizon is so low in frame and the monsters body is basically right on it, it looks like a water cliff. Your water plane really needs to go extremely far back, or paint it in later.
The lighting of some of your earlier tests were better I think. Currently the light source is unknown and serves to seperate the mosnter from the background in an unnatural way. If you want to light him from the front , give a reason for there to be light there. maybe a fish boat off screen is shining a search light on the monster, in which you might try a volumetric light beam. Or if it is like the sky suggests the moon is behind and to the right of the image, lighting him in a bluish way. Be careful of your black levels as well. The darkest part of your monster should not be any darker than the darkest part of the clouds. And you should never hit true digital black, this color doesn’t exist in real life, there is always some light bouncing in, even very subtley.
The last thought is on the background. You have taken all the contrast out by making it this very dark and saturated blue. You could push it more towards night, put some more stars back there, and lower the saturation by a lot or push it towards more dusk, in which you might add some orange hues at the light source, but still less saturated blue.
That’s my take on it at least. Hope it helps.
-Chris