Midnight NIGHT Price Analysis: Token Rises 17.73% Toward June Resistance
Midnight’s NIGHT token rose 17.73% to $0.03812 on Sept. 30, breaking above its rising daily trading channel as the token approached resistance from the June recovery.
The Binance NIGHT/USDT daily chart on TradingView showed NIGHT reaching an intraday high of $0.03934 after falling to $0.03100. The latest move added $0.00574 from the previous daily reference price.
The rally extends a recovery that began after NIGHT declined toward $0.017 in August. The token subsequently established a series of higher lows through September before moving above the upper boundary of its rising channel.
Earlier on Sept. 28, NIGHT was trading near $0.028 after gaining about 21% over the preceding week. The latest advance pushed the token beyond that range and back toward levels associated with its June rebound.
NIGHT Price Breaks Above Rising Channel
TradingView’s daily chart shows NIGHT recovering inside an upward-sloping channel for much of August and September. The lower boundary connected successive recovery lows, while the upper boundary repeatedly contained advances.
That upper boundary was positioned around $0.027–$0.028 before the latest breakout. NIGHT moved through the area and then accelerated above $0.030, marking a clear extension of the September recovery.
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| Midnight price daily chart — Sep. 30 | Source: TradingView |
The breakout gives the chart a positive technical bias, but the move also leaves the token exposed to a potential retracement. A decline toward $0.028 would test whether the former channel ceiling can become support.
Near-term levels include the $0.033 area, close to the latest daily opening price of $0.03239. The session low of $0.03100 provides another reference level, followed by the $0.030 round-number area.
Technical indicators also reflected the recent momentum. TradingView’s Aroon indicator showed Aroon Up at 100% and Aroon Down at 0%, reflecting a recent high within its 14-period measurement window. The Awesome Oscillator stood at 0.00617, with expanding green histogram bars above zero.
Neither indicator, however, establishes a specific price target.
NIGHT Faces $0.04171 Resistance
The next major technical level above the latest price is $0.04171, about 9.4% above $0.03812. The level corresponds with the June rebound high and an area where NIGHT traded before its April decline.
Before reaching that resistance, NIGHT must first move beyond its latest high of $0.03934 and the $0.040 level. A sustained move above those areas would put $0.04171 into focus.
The next marked resistance on the chart is $0.05349, corresponding with highs recorded in March. From $0.03812, that level represents roughly 40.3% upside.
The immediate technical structure depends on whether NIGHT can remain above the breakout zone while challenging nearby resistance. A rejection below $0.040 could bring $0.036 back into view, followed by the $0.033 and $0.031 areas.
A move below $0.031 would put $0.030 back on watch. Falling through the former channel ceiling around $0.027–$0.028 would weaken the breakout structure and return the token toward the range that contained much of its September recovery.
Liquidation Levels Gather Around $0.039
CoinGlass’s 24-hour liquidation heatmap showed NIGHT advancing from the low-$0.032 area toward $0.039 before pulling back toward $0.038.
Several liquidation concentrations appeared near the upper end of the move. Visible bands were located around $0.0382–$0.0383 and $0.0389–$0.0391, with another concentration near $0.0394, close to the daily high.
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| Midnight liquidation heatmap | Source: CoinGlass |
Below the market, liquidation bands were visible around $0.0367–$0.0370 and $0.0355–$0.0360, with additional concentrations extending toward $0.0343–$0.0350.
These areas represent estimated zones where leveraged positions could face forced closure if price moves through them, depending on the direction and margin requirements of individual positions.
A decline below $0.037 would put the $0.036 area in focus, while deeper weakness could expose the lower liquidation concentrations around $0.035.
Hoskinson Predicts Midnight Could Surpass Zcash
The latest price move also follows comments from Cardano founder Charles Hoskinson, who said on Sept. 28 that Midnight could eventually become larger than Zcash.
Hoskinson made the statement while responding to a positive assessment from Weiss Crypto. His comments highlighted privacy technologies, selective disclosure, private agents and cross-chain decentralized finance tools, with a reference to 2027.
“Midnight will be bigger than ZCash,” Hoskinson wrote.
The statement represents Hoskinson’s forecast for Midnight’s development rather than an established market outcome.
The project’s distribution schedule is another factor relevant to NIGHT holders. Midnight’s official redemption guide specifies four equal 25% unlocks, beginning with an assigned first unlock date and followed by additional installments every 90 days. The schedule distributes claimed allocations across a 360-day thawing period.
For U.S. holders who received allocations, the guide states that redemption requires a Cardano wallet containing enough ADA to cover transaction fees.
For NIGHT, the immediate chart focus remains the $0.03934–$0.04171 area. Holding above the September channel while clearing that range would extend the current recovery structure, while a move below $0.031 would shift attention toward $0.030 and the former channel boundary.
Source: crypto.news
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.