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Midnight, a Cardano-based token that some traders are already labeling the "new ADA," is back in that zone where the chart does the marketing because the whole conversation compresses into one line. Can NIGHT print $0.10 and make the price tag lose a digit?
On the NIGHT/USDT chart by TradingView, the latest candle is at $0.092216, up 2.67%. The rise is happening while the price remains above the Bollinger Bands basis of $0.085786. This popular indicator tends to support trends until they break.
The upper band sits near $0.107048, putting a very specific target on the screen as the next obvious place where liquidity could be tested if buyers continue to defend the midline.
The part that makes "delete a zero" more than a meme is what it does to the rankings. According to CoinMarketCap, Midnight is ranked 49th, with a market cap of $1.53 billion, and is basically one decent push away from swapping places with the big established names right above it.
Midnight shake-up
If NIGHT increases by about 9%, from $0.0919 to $0.10, and the supply remains similar, the market cap would approach $1.65 billion, which could push it into the mid-40s, where ICP is listed at around $1.64 billion and Pi Network at around $1.7 billion.
If the breakout extends toward the upper Bollinger band and the market gives it a wick into the $0.107-$0.11 zone, the implied cap drifts into the $1.8 billion neighborhood. This is, for example, where Tether Gold is right now, at around $1.81 billion in market cap.
The risk is simple, too. If the $0.0858 basis is lost on closes, the zero stays with $0.080, as the first spot the market will stare at and the lower band near $0.064523 as the deeper reset level.
Gamza Khanzadaev
Godfrey Benjamin
Caroline Amosun
Alex Dovbnya