NIGHT falls 11% while holders quietly ghost exchanges with $8.7M in outflows 👻

Midnight (NIGHT) extended its slide over the past 24 hours, trading near $0.0309 after an 11% decline, with market capitalization slipping to roughly $513 million. Trading volume moved in the opposite direction, climbing 29.37% to more than $60 million as sellers maintained control despite elevated participation. The divergence between falling price and rising volume pointed to intensified engagement across the token's spot market.

Exchange flow data showed $9.25 million in inflows against $17.96 million in outflows, leaving a net outflow of approximately $8.7 million. Outflows from centralized venues typically indicate holders moving assets into self-custody, a pattern associated with reduced immediate intent to sell. The accumulation behavior persisted even as NIGHT continued to trade near local lows.

Price action remained capped below key resistance around the $0.0400 zone reached earlier in June, with a series of lower highs shifting structure back in favor of sellers. NIGHT defended support near $0.0297 while hovering around $0.0310, and the relative strength index fell to 44.13, below its moving average of 46.11. RSI stayed above oversold territory, indicating that bearish momentum had not yet reached exhaustion.

Liquidation heatmap data revealed clustered leverage beneath the current price in the $0.0300–$0.0310 region, aligning with the identified support area, and additional pools above the market near $0.0320, $0.0335, and $0.0350. The setup placed NIGHT between competing liquidity zones, with leveraged positioning concentrated on both sides of spot.

If support near $0.0297 continues to hold, a recovery attempt toward $0.0350 remains technically possible based on the visible resistance levels, while a breakdown below that range would likely reinforce short-term bearish pressure across the pair.