$NIGHT – Bulls Defending Historical Base: Bracing for a Technical Bounce After Sharp Correction
Long $NIGHT
Entry: 0.04550 – 0.04680
SL: 0.03950
TP: 0.05500 – 0.07000 – 0.08800
1/ Check the whale money flow: The whale data shows 99 whales with a total position of about 5.64M USDT. Among them, 42 whales are holding long positions worth 3.59M USDT but are currently at a loss of around -1.17M USDT, as the price is below their average entry of 0.0618.
On the other hand, 57 whales are in short positions with 2.05M USDT and are currently in profit by about +388K USDT, benefiting from the recent price decline.
2/ Check Top Trader Long/Short Ratio data shows that large traders are currently leaning heavily toward short positions, with shorts accounting for around 65–75% of positions. This reflects a rather bearish sentiment in the short term.
The Long/Short Ratio by accounts has also dropped to around 0.7, indicating that more traders are opening short positions than long ones. When positioning becomes heavily skewed to one side, the market often tends to trigger liquidity sweeps.
When the crowd is heavily short, market makers typically target that liquidity. Therefore, looking for long opportunities may be a more reasonable strategy.
3/ Technical analysis of the chart: Watching NIGHT on the daily chart as it shows signs of selling exhaustion, with consistent lower wicks printing right at the 0.044 structural support.
The price action is coiling tightly at these lows after a long downtrend, making it feel like a relief rally toward the MA25 resistance zone is currently loading.
Trade $NIGHT here 👇
