NIGHT continued to weaken over the past 24 hours, with its price dropping to around $0.0309, recording a daily decline of over 11%. However, market activity did not decline in tandem; trading volume increased by 29.37% to over $60 million, indicating continued capital participation.
The exchange experienced a net outflow of approximately $8.7 million.
Spot fund flows show that approximately $9.25 million has flowed into exchanges for NIGHT, while outflows amount to around $17.96 million, resulting in a net outflow of approximately $8.7 million. Typically, sustained outflows indicate that holders are transferring tokens off exchange platforms, suggesting a reduced short-term selling pressure.
However, this change has not yet led to a price recovery. NIGHT remains near its recent low, indicating weak buying support. Yet, since outflows continue to exceed inflows, some holders still prefer to hold rather than sell en masse.
The $0.0297 support level is being tested.
From the price action, NIGHT has failed to sustain multiple recent rebounds, with price consistently pressured by overhead resistance. In early June, buying pressure pushed the token toward the $0.0400 region, but bullish momentum quickly faded, causing the price structure to revert to a bearish bias and form lower swing highs.
Technical indicators also show a decline in momentum. The RSI has dropped to 44.13, below its moving average of 46.11, indicating a significant weakening of bullish strength compared to earlier levels. However, the RSI has not yet entered the oversold zone, suggesting that selling pressure has not been fully exhausted.
Liquidity is concentrated between $0.0320 and $0.0350.
The liquidation heatmap shows significant liquidity clustered below the $0.0300 to $0.0310 range, near the current support area. Meanwhile, liquidity is also concentrated around $0.0320 above the current price, with higher concentrations at $0.0335 and $0.0350.
This means NIGHT's short-term price may be pulled back and forth between multiple liquidity zones. If the support near $0.0297 remains intact, the price could rebound above $0.0320 and further test $0.0350; if this support is broken, downward pressure on the short-term trend may intensify.