After a slight upward movement, $NIGHT is now entering a consolidation phase. This simply means the market is taking a breather as buyers and sellers decide the next move for @MidnightNetwork token. These periods often appear after big price jumps and can set up the next breakout.
Right now, price is forming an ascending triangle. In this pattern, the support level (the floor) keeps rising while resistance (the ceiling) stays fixed around $0.0515.
Key Levels to Watch:
EMAs: Price trading below the EMAs suggests short-term weakness.
Support: Holding $0.0490 is important for bullish momentum.
Breakout: A strong, high-volume move above $0.0515 could trigger the next upward leg.
Patience during consolidation often pays off.