Midnight (NIGHT) increased by 2% during the Friday morning trading session, shortly after founder Charles Hoskinson revealed plans to launch the mainnet by the end of March at the Consensus 2026 event. This news further boosted market sentiment, helping NIGHT maintain its short-term recovery momentum.
From a technical perspective, Midnight is signaling a relatively clear bottom formation, reinforcing expectations of a new bullish cycle if buying pressure continues in the upcoming sessions.
Mainnet launch announcement boosts demand
Charles Hoskinson, founder of Cardano, revealed that Midnight — a privacy-focused blockchain utilizing zero-knowledge proofs technology — will officially launch its mainnet in the last week of March. The project is positioned as a “partner chain” of Cardano, aiming to provide enhanced security layers and support legal compliance for decentralized applications (dApps).
According to Hoskinson, Midnight has established partnerships with several major industry players. “Google is one of them. Telegram as well,” he stated, emphasizing ambitions to expand the ecosystem early on.
In a significant speech, Hoskinson also announced plans to integrate LayerZero — a platform targeting enterprise clients — into the Cardano blockchain, to meet the trend of moving traditional activities on-chain.
Data from CoinGlass shows that NIGHT futures contracts have increased open interest (OI) by over 4% in the past 24 hours, reaching $31.72 million, reflecting growing investor interest following the mainnet launch timeline announcement.
Night Derivatives Data | Source: CoinGlass## Midnight faces multiple resistance levels
As of Friday, Midnight maintained trading above the psychological level of $0.0500, indicating notable recovery signals on the 4-hour timeframe. Notably, NIGHT has formed a higher low structure after a series of lower lows — an important technical signal suggesting a trend reversal is gradually being established.
However, the upward momentum still faces resistance at the 50-period exponential moving average (EMA) at $0.0502. If a successful breakout above this level occurs, Midnight could extend its rally toward the supply zone of $0.0551–$0.0558, approaching the 200-period EMA at $0.0568 — a key challenge area for bulls.
4-Hour NIGHT/USDT Chart | Source: TradingView Technical signals on the 4-hour chart lean toward a positive scenario. The relative strength index (RSI) has risen to 51 and crossed above the midline after a short accumulation phase, indicating improving buying pressure. Meanwhile, the MACD has crossed above its signal line but remains below zero, suggesting bullish momentum is gradually building.
Conversely, if the price weakens and breaks the Wednesday low at $0.0472, the recovery outlook will be invalidated. In that case, NIGHT could retreat to test deeper support levels at $0.0446 and $0.0413 — corresponding to the lows set on January 31 and February 5.
SN_Nour
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