Midnight (NIGHT): Cardano’s Privacy Chain Between Breakthrough and Hype
Midnight is sparking heated debate after its explosive debut — is it a technological breakthrough or an overhyped newcomer? And what should investors be watching right now?
Midnight is sparking heated debate after its explosive debut — is it a technological breakthrough or an overhyped newcomer? And what should investors be watching right now?
ETH/USD is developing a medium-term bearish trend while pulling back toward a longer-term uptrend. However, over the past three weeks, price action has mostly consolidated in a sideways range of 3170.00–2765.00 (50.0% Fibonacci retracement; Murray level [–2/8] — 61.8% Fibonacci retracement; Murray level [1/8]) as investors stay cautious amid monetary-policy and geopolitical uncertainty. The pair is currently hovering near the lower boundary of this range, and a sustained break below it could open the way toward 2187.50 (Murray [–1/8]) and 1875.00 (Murray [–2/8]). If price breaks above 3437.50 (Murray [3/8]), a bullish breakout from the descending channel becomes more likely, with upside targets at 4062.50 (Murray [–5/8], 23.6% Fibonacci retracement) and 4687.50 (Murray [7/8]).
SOL/USD is trading within a medium-term downtrend, forming a corresponding descending channel, but the price has currently met strong resistance at 125.00 (Murray level [5/8]) and moved into a mostly sideways range of 143.00–125.00 (23.6% Fibonacci retracement, Murray level [5/8]). Today, quotes are again approaching the lower boundary of this range under pressure from Fed projections suggesting policymakers may opt for only one rate change next year.
The XRP/USD pair is trading within a medium-term downtrend, forming the corresponding channel. This week, the price attempted a corrective move amid expectations of another Federal Reserve rate cut, testing 2.1484 (Murray level [3/8]), supported by the middle Bollinger Band, but has not yet managed to break above it.
The ETH/USD pair continues to form a medium-term bearish trend, but since last week the price has stabilized in a sideways range of 3125.00–2980.00 (Murray level [2/8], 50.0% Fibonacci correction, the middle line of Bollinger Bands), where it remains currently.
USPD has published a recovery roadmap following the December 4 exploit that allowed an attacker to mint 98 million USPD and drain about $1 million in stETH from the protocol. The team said the incident was caused by a hidden proxy deployment, and announced that USPD V1 is permanently shut down. A full rebuild, compensation model and a new V2 release are now planned for early 2026.
The SOL/USD pair continues to trade within a medium-term bearish trend, forming a descending channel. At the moment, a resistance level has formed at 125.00 (Murray level [5/8]), which the price has been unable to break for several weeks. If this resistance continues to hold, the downward movement is likely to resume toward the 100.00 area (Murray level [4/8]) and 75.00 (Murray level [3/8]). However, if the price breaks above 165.70 (38.2% Fibonacci correction), the asset may exit the descending channel and continue toward 200.00 (Murray level [8/8], 61.8% Fibonacci correction) and 250.00 (Murray level [+2/8]).
This week, the XRP/USD pair showed mixed performance, similar to the cryptocurrency market as a whole: on Monday, amid cascading liquidations, the price dropped toward 1.9840 but then recovered and is currently trading near 2.2000.
The ETH/USD pair is forming a downward trend, correcting against the long-term move: by now, the price has left the descending channel after breaking through its lower boundary and has started testing the support area at 2812.50–2720.00 (Murray level [1/8], 61.8% Fibonacci retracement). After a firm consolidation below this area, a decline toward 2187.50 (Murray level [–1/8]) and 1875.00 (Murray level [–2/8]) becomes likely. A consolidation above the resistance area at 3437.50–3540.00 (Murray level [3/8], 38.2% Fibonacci retracement, upper Bollinger Band) would allow the price to reverse the current trend and move toward 4062.50 (23.6% Fibonacci retracement, Murray level [5/8], upper boundary of the descending channel), 4687.50 (Murray level [7/8]) and 5000.00 (Murray level [8/8]).