Altcoin sentiment remains sour, but Midnight (NIGHT), Hyperliquid (HYPE), and Monero (XMR) are flashing accumulation signals and catalyst-driven strength. This provides a rare pocket of “risk” in a weak market as we approach early February 2026.
Our analysis identified three tokens as candidates for new highs, with roadmap progress and improving money flow signals as the main drivers. As the market as a whole shows extreme fear, capital is turning to projects with clear development milestones or sustainable narratives like privacy and decentralized commerce.
Technical points for NIGHT, HYPE and XMR
Midnight ($0.047, -4.3%) advances its Q1 2026 roadmap, focused on the “Kūkolu” phase. This stage provides a stable mainnet with trusted validators and privacy-focused applications, according to a January update.
Technical indicators like the Chaikin Money Flow (CMF) are rising, indicating that fund outflows are decreasing. A key level to bounce from is $0.053, with a potential return to its previous all-time high near $0.120.
For its part, Hyperliquide’s CMF has risen above zero, suggesting that inflows now dominate. HYPE’s price at $33.74 also shows a reported correlation of -0.22 with Bitcoin, implying more independent price action. Open interest on the decentralized perpetual exchange jumped to $793 million between January 26 and 27, up from $260 million a month earlier. This reflects growing demand for its derivatives market structure.
Monero is trading near $305 after a sharp 11-day correction of 30%. Its Money Flow Index (MFI) suggests that selling pressure is almost exhausted. Monero, a privacy coin launched in 2014, maintains an enduring narrative focused on fungibility and censorship resistance.
A flight towards quality in a context of market dispersion
Although broad altcoin indices are weak, dispersion is the key theme. The outperformance of these three tokens is not random. This is a flight to quality within specific narratives. Midnight represents progress in privacy-enhancing L1s. Hyperliquide reflects the growing market share of successful decentralized derivatives platforms.
Monero’s resilience indicates persistent, non-speculative demand for private transactions. For a desk trader, these are not degenerate altcoin games. These are targeted bets on maturing crypto subsectors that demonstrate independent strength in a risk-free macro environment.
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