NIGHT amidst the ups and downs – is $0.13 a realistic target?

Midnight [NIGHT] is in a dynamic period, and recent price movements are generating significant interest from traders. Although data from January 12th show a 2.48% decline over the past 24 hours and a 20.75% decrease in the last week, past gains of the altcoin attracted the attention of investors and experts. Bitcoin [BTC] in the same period gained 0.70% daily and lost 1.20% weekly, highlighting the volatility of the entire sector.

What drives NIGHT’s momentum?

Interest in the Midnight token increased significantly after it ranked high on the list of most popular assets on CoinGecko. The layer 1 blockchain project focused on privacy within the Cardano [ADA] ecosystem caught the attention of IOHK co-founder Charles Hoskinson, who expressed optimism about the network’s prospects.

The volatility history of NIGHT in recent weeks shows significant fluctuations – the token corrected by 40% from $0.120 to $0.0718 in a short period, then rebounded by 34%. The critical resistance level at $0.083 was broken and now acts as support, which is a bullish signal for short-term market observers.

Technical analysis of price levels

The recent breakout of price structures ( confirmed by a move above the local resistance of $0.09) suggests further upside potential, but concerns about weak trading volume remain. The CMF (Chaikin Money Flow) indicator indicates that demand is not strong enough to break above the +0.05 level despite recent gains.

Fibonacci retracement levels from previous moves indicate potential targets:

• $0.1 – psychological level: If broken and becomes support, it opens the door for buying opportunities
• $0.134 – Fibonacci extension: A more ambitious target for optimists

Where are the threats?

Weak trading volume is a primary concern for bulls. Demand appears insufficient, and waning trader interest could limit upward momentum. The liquidation map shows potential clusters of long positions with high leverage at levels of $0.088-0.09$, which could trigger a short-term correction.

Bitcoin’s movement remains crucial – if BTC drops below $85,000, sentiment could reverse across the altcoin market, including NIGHT.

Trader strategy

The H4 chart structure remains bullish, and Bitcoin shows no immediate signs of danger. Traders may see dips to $0.088-0.09 as an opportunity to open positions, then expect a move upward. Breaking $0.1 will be a key confirmation signal for further growth.

Summary

Midnight maintains medium-term bullish potential, despite recent declines shown by current data. The main challenge remains maintaining sufficient interest and trading volume. For active traders, the $0.134 level remains an ambitious target, but only if the network manages to break the psychological barrier of $0.1 with adequate support from buyers.