Midnight (NIGHT), the Cardano-linked privacy project, is down about 6% in seven days but up nearly 7% in the past 24 hours. This split week reflects a deeper conflict on the chart and on-chain. Retail optimism is visible. Mega whales are unloading supply at a pace that can derail the move unless the Midnight price reclaims $0.101 with strength.
Price action sits near $0.093. The trend stays fragile until clear validation arrives.
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Mega Whales Sell While Retail Buys The Dip
On the BNB Chain, the top 100 NIGHT holders (mega whales) have reduced their balances by 11.85%. Their holdings fell to 207.4 million NIGHT, down by 27.9 million NIGHT. At the current price, that is roughly $2.7 million in value exiting wallets. This positioning turns sentiment against continuation.
Exchange balances tell the opposite story. NIGHT on exchanges fell 6.63% over seven days, now at 129.76 million NIGHT. That decrease equals about 9.2 million NIGHT, or roughly $920,000 in retail-led accumulation. Retail is buying dips, but the size difference favors mega whales by almost three times.
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This retail bid is visible on the chart. On-Balance Volume (OBV), which tracks buying pressure using volume direction, has made a higher high and broken its trendline. That divergence formed while the Midnight price made lower highs between December 21 and December 29. It shows retail accumulation pushing against whale selling.
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Volume Breakout Confirms Retail Interest: TradingViewFor now, retail momentum is visible, but mega whale outflows still outweigh it.
Derivatives Show Long Bias, But A Trap Zone Exists
Derivatives reflect the same split.
On Bybit, NIGHT-USDT perpetuals show about $3.45 million in long liquidation leverage versus $2.54 million in shorts. Longs make up nearly 57% of liquidation exposure. This matches the retail sentiment but creates vulnerability if the NIGHT price pulls back.
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Liquidation map: CoinglassThe liquidation map highlights a danger zone at $0.082. If NIGHT drops near that area (also visible on the price chart), almost $2.91 million of long positions face forced closing. This exceeds 84% of the current long liquidation cluster. Such an unwind would intensify selling pressure and likely accelerate the downside.
Key Liquidation Cluster: CoinglassAs long as mega whales continue to sell while the derivatives remain long, downside risk remains higher than most retail traders may expect.
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Midnight Price Levels Decide What Happens Next
Midnight (NIGHT) trades near $0.093. Reclaiming $0.101 tests the 0.618 Fibonacci level, a psychological line. A daily close above $0.109 confirms momentum. That sets up an attempt at $0.119, where price enters a fresh discovery zone for this range. Above that, the trend has reason to extend, and mega whale selling would need to slow for continuation.
If price fails to reclaim $0.101, mega whale pressure can steer the trend lower. Losing $0.082 triggers liquidation clusters and opens the path to $0.071. That becomes the invalidation zone for any near-term recovery.
Midnight Price Analysis: TradingViewFor now, the Midnight price sits between retail optimism and mega whale distribution. One side will decide the direction soon. If NIGHT cannot secure $0.101 ($0.10 per the title), the Midnight Express could derail before the market sees a larger breakout.
Source: https://beincrypto.com/midnight-price-faces-whale-pressure/
