Midnight (NIGHT) price bounces 9.5% but downtrend likely to continue amid weak demand and volume drop

Midnight (NIGHT) saw a 9.5% price increase on June 8, bouncing from a key support level around $0.029. However, trading volume fell sharply by 62%, and open interest remained stable, indicating weak buying interest. Technical indicators on both daily and hourly charts remain bearish, suggesting the recent rally may stall near $0.032-$0.035 resistance. Without a daily close above $0.042, the downtrend that started in January is expected to persist, making selling the bounce a prudent strategy for traders.