The NIGHT/USDT pair presents an interesting analysis opportunity today. After the highs reached this week, the price has made a technical retracement to $0.04928. Far from being a sign of weakness, this movement seems to be an organized profit-taking before continuing with the main trend of @MidnightNetwork

Indicators to watch:

Support Zone: The price has found immediate support in the area of $0.04892. Maintaining this level is crucial to preserving the bullish structure on higher timeframes.

Local overbought: The RSI(6) has dropped to 39.53. As we have seen in previous days, when $NIGHT approaches the 30-35 RSI points, a strong buying pressure usually appears that drives the price up rapidly.

Massive activity: The most impressive thing remains the 24-hour volume, which stands at 91.24M USDT. Few projects on Binance Square enjoy as much liquidity and active participation as $NIGHT

Outlook:

Current volatility is the perfect scenario for those looking for entries on pullbacks. If we manage to recover the MA7 ($0.04987) in the next candles, the path to $0.052 will be open again. #NIGHT