Midnight’s NIGHT token traded near $0.03894 on October 23, roughly 22% below the $0.05 level it reached earlier this month. Although at the time of this writing, it showed a small gain, the price remained below four cents.

The retreat has taken back part of a sharp rally from September’s much lower prices. NIGHT still holds substantial gains from before that surge, leaving buyers to wonder if it can establish a base before more of that advance unwinds. Let’s get into it.

Four cents has become harder to hold

NIGHT’s late-September climb carried it from around $0.025 to above $0.05 in early October. Between the end of September and early October, it saw an over 100% rise, which took it to the $0.05 price level. It was a huge…