The cryptocurrency market extended its gains on Friday, buoyed by softer-than-expected U.S. nonfarm payrolls data, which reduced the likelihood of further Federal Reserve rate hikes. Bitcoin and most major altcoins traded higher, pushing the total market capitalization closer to the $3 trillion mark. This report examines the technical outlook for Dogecoin (DOGE), Midnight (NIGHT), and Worldcoin (WLD).
Midnight (NIGHT) price analysis
Midnight, a privacy-focused blockchain launched by Cardano late last year, has been one of the standout performers this month. After dipping to $0.0150 in July, the token has surged to $0.047, a gain of over 217%, lifting its market cap to more than $821 million. Notably, this rally has occurred despite Midnight being a ghost chain with no significant decentralized applications (dApps) on its network.
The surge is largely attributed to growing demand for privacy tokens. Technically, the price broke out of a falling wedge pattern—a formation characterized by two descending and converging trendlines, often preceding a strong upward move. The Average Directional Index (ADX) has climbed to 45, indicating an accelerating uptrend, and the token has moved above its 50-day exponential moving average (EMA).
However, the token is now heavily overbought, with the Relative Strength Index (RSI) at 88. Historically, such extreme readings often lead to profit-taking and a pullback. A retreat to the psychological support at $0.20 is possible.
Dogecoin (DOGE) price analysis
Dogecoin has rebounded from its August low of $0.067 to the current $0.1056, driven by the broader crypto market strength. Spot DOGE ETFs have seen modest inflows of $3.6 million, bringing total assets to just $16 million—raising concerns about potential delistings.
On the daily chart, DOGE formed a bullish flag pattern, consisting of a vertical price surge followed by a descending channel that resembles a falling wedge—a common bullish reversal signal. After breaking above this channel, the token appears to be forming another bullish flag, suggesting further upside potential.
Worldcoin (WLD) price analysis
Worldcoin has also recovered, climbing from a low of $0.2930 to $0.5623. The rally is supported by the broader crypto rebound and increased interest in AI agents, particularly after Meta Platforms introduced its Muse product. Investors believe World ID could see wider adoption among companies.
Additionally, the token is benefiting from anticipation surrounding the upcoming OpenAI IPO, given that Sam Altman co-founded both projects. Technically, WLD is forming a cup-and-handle pattern, a classic continuation signal, and has crossed above its 50-day moving average, forming a golden cross.
The path of least resistance appears bullish, with the next key target at $0.7124, roughly 26% above current levels.
This article is for informational purposes only and does not constitute financial advice.
