Cardano Powered Midnight Targets 10% Milestone in Strong Uptrend

TLDR

Table of Contents

Midnight trades at $0.092216 with 2.67% daily growth supported by Bollinger Bands.
The $0.10 target may push NIGHT’s market cap near $1.65 billion.
Midnight is ranked 49th, close behind ICP and Pi Network in market value.
Support lies at $0.0858; a drop may see NIGHT return to $0.080 or lower.

Midnight (NIGHT), a Cardano-based token gaining traction as the “new ADA,” is closing in on a key price milestone. The token is trading just below the $0.10 mark, and market watchers are pointing to strong support and technical indicators that suggest a breakout may be underway. If the price push holds, Midnight could see a shift in its market ranking.

Price Support and Indicator Trends

Midnight (NIGHT), a token built on the Cardano blockchain, is nearing the $0.10 level as technical indicators point to a possible breakout. At press time, NIGHT is trading at $0.092216, showing a 2.67% increase in the last 24 hours, according to TradingView.

The Bollinger Bands, a widely used volatility indicator, currently show NIGHT holding above its basis line of $0.085786. This midline has been acting as a trend support, and price movement above it often leads to continued upward momentum unless a reversal occurs.

The upper band is now positioned at $0.107048, which traders are eyeing as the next resistance level. If the price pushes into this range, it could be seen as a breakout confirmation, potentially driving more buyer interest.

Market Cap and Ranking Movement

According to CoinMarketCap data, Midnight is ranked 49th with a market capitalization of approximately $1.53 billion. A price move to $0.10 would bring its cap closer to $1.65 billion, potentially shifting its rank upward. This could place it ahead of competitors like ICP and ENA and closer to Pi Network and Tether Gold in valuation.

A 9% increase in price would be enough for Midnight to challenge some of the higher-ranked tokens. Market watchers note that this would allow it to bypass several established tokens, possibly improving its visibility on exchanges and price tracking platforms.

A brief wick into the $0.107 to $0.11 zone would lift the market cap near $1.8 billion, placing Midnight near Tether Gold’s current cap of $1.81 billion. This zone is also aligned with the top of the Bollinger Bands.

Risks to the Current Trend

Despite the bullish outlook, traders are also watching for potential downside moves. If the support at $0.0858 fails to hold, the token could fall toward the $0.080 mark, which may serve as the next visible support level. The lower Bollinger Band is positioned at $0.064523, which could be tested in the case of stronger selling pressure.

The trend remains intact as long as NIGHT trades above the basis line. A close below that level, however, would weaken current momentum and could delay the effort to “delete a zero” from its price.

Market Sentiment and Broader Reactions

Some in the crypto community are referring to Midnight as the “new Cardano” due to its ecosystem links and recent performance. A recent reaction from Ripple CTO on the token’s growing attention also drew interest from XRP holders, suggesting broader market awareness.

The NIGHT/USDT chart remains the focal point for many traders who are tracking its movement closely. Should the rally continue, analysts expect more volume inflows, especially if the price breaks above the $0.10 threshold with strong confirmation.

Market participants continue to monitor trading volumes and liquidity zones, especially around $0.10 and $0.107. The next few days will be crucial in confirming whether Midnight can sustain the momentum and rise in the rankings.