$NIGHT 24-hour low, current price 0.04325, previous low 0.04397.
After a new low, there are generally three possible scenarios:
① A rebound tests the previous low, then falls back: weakness continues
② Price moves sideways near the previous low: consolidation, direction unclear
③ Price quickly reclaims and holds above the previous low: a bear trap
For now, price is below the previous low, so first watch whether scenario ① or ② plays out.
After a new low, there are generally three possible scenarios:
① A rebound tests the previous low, then falls back: weakness continues
② Price moves sideways near the previous low: consolidation, direction unclear
③ Price quickly reclaims and holds above the previous low: a bear trap
For now, price is below the previous low, so first watch whether scenario ① or ② plays out.