$NIGHT plummeted! The airdrop benefits have all been exhausted, 0.0507 is the last line of defense, breaking below means falling into the abyss, current holders should pay attention to closing positions!
The recent rise of NIGHT is due to airdrop activities and the release of the tokenomics of Midnight Network. Such favorable events usually push prices up in advance, and when the news is fully digested by the market or the event is nearing its end, some institutions and retail investors may choose to take profits, leading to price corrections. The main reason for the recent decline is the natural selling pressure after the short-term favorable momentum weakened.
The price has retreated from a high of $0.05394, with the latest price at $0.05124. The price has now fallen below the important short-term moving average EMA30 and is testing the support of the BBI bull-bear boundary line at 0.05092 and 0.05119.
This indicates that the short-term upward momentum has weakened and has entered an adjustment phase.
My current view on NIGHT: short-term weakening, the key support has shifted from strong upward momentum to high-level oscillation and adjustment.
The short-term upward trend has been damaged and has turned into a bearish oscillation. The core observation point is whether the price can stabilize in the key support area.
Support below: need to pay attention to 0.05071, followed by the BBI line at 0.05092. If this area is broken, the depth of the correction will increase.
Resistance above: recent resistance is around 0.05268, with stronger resistance at the previous high of 0.05394. Any rebound should be considered a weak counterattack until it stabilizes above 0.05268.
For holders: immediately set a clear stop-loss. It is recommended to set the stop-loss below $0.05070. If the price effectively breaks below this level, decisive exit is necessary to avoid deep correction risks.
If the price can maintain support and oscillate between 0.05071 and 0.05120, it can be held temporarily, but closely monitor the resistance strength around 0.05268 above; if it cannot break through, consider reducing positions.
Sister Xin has laid out all the key positions, stop-loss strategies, and all danger signals. But the more critical question is, where will tonight's closing line be? On-chain data shows whether big players are bottom fishing or fleeing? When will the next wave of signals appear? Feel free to scan 币安聊天室!
