Midnight Price Prediction: Will This Privacy Coin Follow Zcash’s Playbook?

Midnight price prediction for this week stays bullish above $0.0331, the level NIGHT needs to hold to keep its September breakout alive.

Midnight Price Analysis (Source: TradingView)

NIGHT is holding just above its 200-day EMA at $0.03312, trading near $0.03351, and a daily close above that line would confirm the hold. 

 The rally started with a break above the descending trendline from the March high, which had capped rebounds in June and July. It has left the 20-day EMA at $0.02556, the 100-day at $0.02503 and the 50-day at $0.02346 well below price.

RSI has climbed to 80.09, well into overbought territory, so the move may need to cool even if the breakout holds. The next hurdle is $0.0350, the early-July high.

Crypto commentator David Gokhshtein posted on X that he expects NIGHT to follow Zcash’s run. He argues Midnight brings privacy to smart contracts and apps through zero-knowledge proofs, which let users prove a claim without exposing the data behind it, while Zcash built its name on private payments. 

He said people and companies won’t want their full financial lives exposed to use blockchain, and called that a large opportunity if Midnight executes. Gokhshtein disclosed that Midnight sponsors his show, The Breakdown, so this is a sponsored voice rather than a neutral forecast.

• Bons alleged Midnight validators moved to closed-source code on September 25 without telling the public.
• He said two founding entities hold about 50.25% of supply, with Midnight Foundation at 8.4 billion NIGHT (35%) and Midnight TGE Limited at 3.66 billion (15.25%).
• Hoskinson dismissed the claims as FUD, said Midnight currently runs in a federated mode, where a limited group of operators runs the network, while it works toward more node decentralization, and disputed that founders control most of the supply.

The host said the criticism is premature because the token distribution isn’t finished. He also said he owns NIGHT and bought more today, so his view is that of an interested party. The allegations are Bons’s claims as relayed in the video, not verified onchain data.

NIGHT holds the 200-day EMA at $0.0331 and closes a day above the $0.0350 early-July high, which puts $0.0400 in range. RSI above 80 leaves room for a pullback before any push higher.

NIGHT is rejected at the 200-day EMA and loses the $0.0300 round-number support. A slide to the 20-day EMA at $0.02556 would be a drop of about 24% and would put the 100-day EMA at $0.02503 next.