$NIGHT has been cruising in a strong uptrend lately, but this zone could present a potential shorting opportunity. One of the main drivers behind the recent bullish momentum is the listing of $NIGHT on the Binance Creator Pad, where the team allocated around 2 million tokens for airdrop participants. With the campaign running for about two weeks, many traders have jumped into the market to gain exposure and qualify for rewards, ramping up liquidity and pushing the price toward a critical resistance level.
However, when markets rally mainly due to promo campaigns or temporary incentives, the price often retraces once the hype fades. As liquidity pumps near resistance, early traders might start cashing out. From a technical standpoint, this zone looks like a potential distribution area where sellers could dive in.