NIGHT is trading around 0.0636 after a sharp pullback from the 0.0694 high. The move down was driven by aggressive long liquidations as price lost the intraday support zone and slipped below short term moving averages. That flush cleared late longs and shifted positioning back to neutral to slightly defensive.

Liquidity behavior shows sell side pressure easing near 0.0626, where buyers stepped in and absorbed the move. Volume spiked during the selloff and then cooled, which usually signals forced selling rather than sustained distribution. Whale activity looks reactive rather than aggressive, with bids appearing only after liquidation clusters were cleared.

Funding on perps has cooled after turning negative, suggesting leverage is resetting instead of piling in. Momentum remains soft on the lower timeframe, but price is stabilizing and forming a short base above the recent low. Structurally, NIGHT is still below key resistance, so this is consolidation after a breakdown, not a confirmed reversal yet.
Immediate support sits at 0.0625 to 0.0619. As long as this zone holds, a technical bounce toward overhead liquidity is possible. Resistance is stacked at 0.0648 and then 0.0660, where sellers are likely to defend.

Trade setup
TP 0.0648 then 0.0660
SL 0.0619

My take NIGHT is in a short term corrective phase after a liquidation driven drop. Stability above support could lead to a relief bounce, but trend strength only returns above resistance. Do your own research.
$NIGHT ‌

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