Midnight price targets June resistance after 17% surge

Midnight’s NIGHT token has climbed 17.73% to $0.03812, breaking above its rising daily channel as traders assess Cardano founder Charles Hoskinson’s forecast that the privacy-focused network could eventually surpass Zcash.

TradingView’s Binance NIGHT/USDT daily chart placed the token at $0.03812 on Sep. 30, following an advance of $0.00574 from the previous daily reference price. NIGHT reached a high of $0.03934 after trading as low as $0.03100.

The latest move extended a recovery that began after NIGHT fell toward $0.017 in August. Price subsequently formed higher lows through September before accelerating above the upper boundary of its rising channel.

Earlier coverage published on Sep. 28 placed NIGHT near $0.028 following a weekly gain of about 21%. The Sep. 30 advance carried the token beyond that earlier trading range and toward resistance last tested during the June rebound.

NIGHT breaks above its rising channel

The TradingView daily chart shows NIGHT moving within an upward-sloping channel through much of August and September. The lower boundary connected successive recovery lows, while the upper boundary limited earlier advances.

Near the latest breakout, the upper boundary sat around $0.027–$0.028. NIGHT pushed through that area and accelerated above $0.030, reaching prices last seen during the summer.

The channel breakout gives the technical setup a bullish bias, although the distance between the current price and the former channel ceiling leaves room for a sizeable retracement. A return toward $0.028 would test whether that boundary can act as support after previously limiting advances.

Closer to the market, the $0.033 area sits near the latest daily opening price of $0.03239. The session low at $0.03100 provides another reference point below it, followed by the round $0.030 level.

TradingView’s Aroon indicator showed Aroon Up at 100% and Aroon Down at 0%. The readings reflect a fresh high within the indicator’s 14-period window, while the corresponding low occurred at the opposite end of that window.

The Awesome Oscillator also strengthened, reaching 0.00617 with expanding green histogram bars above zero. Its position supports the upward momentum visible in the price chart, although neither indicator sets a price target.

$0.04171 stands above the latest daily high

The nearest marked daily resistance sits at $0.04171, approximately 9.4% above $0.03812. The level aligns with the June rebound high and an area where NIGHT traded before its April decline.

Before reaching that barrier, NIGHT would need to clear the latest session high at $0.03934 and move through $0.040. A sustained advance above both levels would bring the June resistance into focus.

Above $0.04171, the next marked resistance is $0.05349. The level corresponds to highs formed in March and represents roughly 40.3% upside from the chart price.

The bullish scenario depends first on NIGHT holding above its breakout area and overcoming nearby resistance. Rejection below $0.040 would leave the token vulnerable to a return toward $0.036 and the earlier intraday trading range.

A deeper decline through $0.033 and $0.031 would bring $0.030 back into view. Losing the former channel ceiling around $0.027–$0.028 would weaken the breakout setup and return price toward the structure that contained the September recovery.

Liquidation bands cluster near $0.039

CoinGlass’s 24-hour liquidation heatmap shows NIGHT climbing from the low-$0.032 area toward $0.039 before easing back toward $0.038. The intraday advance included a sharp move through $0.034 and several swings between roughly $0.0355 and $0.0385.

Near the end of the tracking window, visible liquidation bands sat around $0.0382–$0.0383 and $0.0389–$0.0391. Another concentration appeared near $0.0394, close to the high recorded on the daily chart.

Below price, the heatmap showed concentrations around $0.0367–$0.0370 and $0.0355–$0.0360. Additional bands extended toward $0.0343–$0.0350.

The estimated liquidation zones place leveraged positions near several prices NIGHT crossed during its advance. A move through those zones could expose positions to forced closure, depending on their direction and margin requirements.

The heatmap’s lower concentrations also overlap parts of the afternoon breakout. If NIGHT retreats below $0.037, the $0.036 area would become an immediate reference point before the lower bands around $0.035.

Hoskinson’s forecast accompanies the rally

Cardano founder Charles Hoskinson argued in a Sep. 28 post that Midnight could become larger than Zcash, responding to a positive assessment from Weiss Crypto. ZyCrypto reported his comments and identified selective disclosure, private agents, and cross-chain decentralized finance tools among the features he cited. His remarks preceded the latest breakout.

Hoskinson wrote:

“Midnight will be bigger than ZCash”

His outlook also referenced privacy technologies and Cardano’s infrastructure, ending with a reference to 2027. The statement represents his forecast for the network’s development.

Alongside the technical recovery, Midnight’s distribution schedule remains relevant for holders. The project’s official redemption guide specifies four equal unlocks of 25%, with an assigned first unlock date followed by subsequent installments every 90 days. The schedule spreads access to claimed allocations across a 360-day thawing period.

For U.S. holders who received allocations, the guide also specifies that redemption requires a Cardano wallet with enough ADA to cover transaction fees. Unlock dates and redemption timing determine when their allocations become available.

NIGHT’s immediate technical test remains the $0.03934–$0.04171 resistance area. Holding above the September channel while clearing that range would strengthen the recovery, while a retreat below $0.031 would shift attention toward $0.030 and the former channel ceiling.