Analyzing why NIGHT’s price is up today after short-term uptrend’s latest foray

ambcryptoPublished on 2026-02-20Last updated on 2026-02-20

Abstract

Midnight (NIGHT), the privacy-focused sidechain of Cardano, is set to launch in late March, driving significant gains for its utility token. NIGHT's price increased by 8.78% in 24 hours and 23.78% over the past week, reclaiming the former resistance level of $0.05 as support. The $0.056–$0.060 range is now a critical zone for bulls, who may aim for a rally toward $0.10. Technical analysis shows a bullish short-term structure with higher highs and higher lows, though higher-timeframe momentum remains uncertain. The retracement to $0.04 highlighted seller strength. The Chaikin Money Flow (CMF) suggests buying pressure may not be sustained, while the DMI indicates an ongoing uptrend. Traders are advised to remain cautious. Bitcoin's stability between $65k–$71k could influence altcoin momentum. The recent sweep of short liquidations at $0.063–$0.065 may signal a pullback toward $0.054. The $0.056–$0.060 area remains a key demand zone for potential bullish reactions.

Midnight [NIGHT], the privacy-focused Cardano [ADA] sidechain, is scheduled to go live in the final week of March. Thanks to this update, the utility token NIGHT posted strong gains recently.

According to CoinMarketCap, it was up 8.78% in 24 hours and up 23.78% in a week at press time. According to AMBCrypto, the former resistance at $0.5 had been flipped to support too.

A closer look at the price charts revealed that $0.056-$0.060 is a key area for NIGHT bulls. Now that they have reclaimed this area as their own, can the bulls drive a rally to $0.10 and beyond?

NIGHT back above a key retracement level

The internal structure on the 6-hour timeframe was bullish, and has been since NIGHT pushed above $0.05 on Friday, 06 February. Since then, the price has made higher highs and higher lows.

However, the higher timeframe momentum wasn’t strongly bullish. The deep retracement to the local low at $0.04 underlined the strength of sellers, which was a threat to the bulls on the way to recovery.

The CMF was back at +0.01 after climbing to +0.23 on 18 February. It was an early sign that the buying pressure might not be a sustained push, which could slow any further gains. Meanwhile, the DMI showed that a strong uptrend was in progress, agreeing with the findings based on the internal structure.

Bulls should resist FOMO and arguments of relative strength

Bitcoin [BTC] has been oscillating between the $65k and $71k levels over the past two weeks. If BTC can climb higher, it could see renewed enthusiasm among altcoins, including NIGHT. Until then, swing traders need to remain wary.

The 1-month liquidation heatmap showed that NIGHT had just tagged a significant cluster of short liquidations at $0.063-$0.065. The lack of clear, sustained demand and early candlestick signs of buyer exhaustion at this zone were worrying too.

It is possible that the sweep of the magnetic zone at $0.065 would be followed by a descent to the $0.054 area next. Traders need to watch out for this possibility and beware of going long early.

Final Summary

  • The sweep of the liquidity at $0.065 may be a strong indication that a temporary pullback was brewing.
  • The $0.056-$0.060 area is a short-term demand zone that swing traders can expect a bullish reaction at.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Related Questions

QWhat is the main reason for NIGHT's recent price increase according to the article?

AThe main reason for NIGHT's recent price increase is the scheduled launch of Midnight, the privacy-focused Cardano sidechain, in the final week of March.

QWhat key price area did the article identify as crucial for NIGHT bulls?

AThe article identified the $0.056-$0.060 price area as a key zone for NIGHT bulls, which they had reclaimed as support.

QWhat was a potential threat to the bullish recovery mentioned in the analysis?

AThe deep retracement to the local low at $0.04 was a threat to the bulls, as it underlined the strength of the sellers.

QAccording to the liquidation heatmap, what significant cluster did NIGHT's price just tag?

AAccording to the 1-month liquidation heatmap, NIGHT's price just tagged a significant cluster of short liquidations at the $0.063-$0.065 zone.

QWhat is a possible price movement suggested after the sweep of the $0.065 zone?

AThe article suggests that the sweep of the $0.065 zone could be followed by a descent to the $0.054 area.

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