NIGHT is trading around 0.0558 after a sharp rejection from the 0.0590 to 0.0600 liquidity zone. That spike higher was quickly sold into, which tells me it was driven more by short covering and thin liquidity than by sustained spot demand. Once price failed to hold above the 30 MA, late longs were trapped and we saw a fast unwind back toward the mid range.

The drop toward 0.0545 cleared a visible pocket of liquidity and triggered a wave of short term liquidations. After that sweep, selling pressure slowed and price started to stabilize, which is why candles are compressing again. Funding has cooled from elevated levels and leverage is lighter now, reducing the risk of another forced flush in the immediate term.
Volume confirms this shift. The impulse down was accompanied by a spike in volume, but follow through selling has weakened. That usually signals that whales are no longer aggressively pressing price lower and are waiting for confirmation before the next move.
Structurally, NIGHT is still below key short term resistance, so momentum remains neutral to slightly bearish until proven otherwise. However, as long as price holds above the 0.0540 to 0.0545 support band, downside looks controlled rather than impulsive.
Market outlook
Short term consolidation after a liquidity sweep. Bias remains range bound with potential for a relief bounce if buyers defend support.
Key levels
Support: 0.0545, then 0.0538
Resistance: 0.0568, then 0.0590
Trade levels
TP: 0.0568
TP 2: 0.0590
SL: 0.0538
Market cap
With a relatively small market cap and high 24h volume, NIGHT remains sensitive to leverage flows. This increases volatility but also makes liquidity sweeps more common than trend continuation.
My take
This move looks like a leverage reset, not a trend reversal yet. Patience matters here. I prefer reacting to confirmation rather than predicting the next breakout. Do your own research.
$NIGHT ‌

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