NIGHT is attempting a recovery after the liquidity sweep at 0.04617, and the latest 15m candle shows the first sign of buyers stepping back in. The bounce aligns with a clear short covering reaction because liquidations were triggered right into the low. That created a pocket of thin liquidity, allowing price to snap back toward the previous micro resistance.

Even with the bounce, structure remains in a downtrend. Price is still trading below MA5, MA10 and MA30, and all three averages continue pointing downward. This shows sellers still control the trend and buyers are only reacting, not leading. To shift momentum, NIGHT needs a close above MA10 around 0.04750. Without that reclaim, any move up remains corrective.

Volume also confirms the hesitation. Selling pressure was strong during the breakdown phase, while the current green candles show recovery volume but not enough strength to signal a trend reversal. Whales are not yet showing aggressive absorption, which means the market is still driven by retail and short term traders.

MACD remains negative with DIF and DEA still widening. This usually signals continuation unless strong buying steps in to flatten the curve. For now, market positioning favors careful long attempts only at key liquidity levels.

Immediate resistance sits at 0.04735 then 0.04795, both areas where moving averages converge. Support holds at 0.04617 and if that breaks, the next liquidity pool waits at 0.04580.

Trade setup
TP 0.04735 then 0.04795
SL 0.04615

My take This bounce is technical, not yet a confirmed shift in trend, so manage exposure and always do your own research.
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