Pi Network Price Prediction: PI Surges 34% To New All-Time-High, But Traders Rush To Buy This SOL Layer-2 ICO With Its 171% APY

The Pi Network price surged 34% in the last 24 hours to trade at $2.54 as of 2:30 a.m. EST on trading volume that soared 333% to $3.48 billion.

The PI price surged yesterday, going from $1.89 to an all-time high at $2.98, only to be rejected by resistance at $3. This barrier immediately rejected the price to $2.2. However, in the early hours of Thursday, Feb. 27, its price surged to $3 again, only to go down to the current price once more.

Pi Network Price Prediction

The Pi Network price has been trading against the market in the last 24 hours, as most of the major cryptocurrencies that are setting up the trend are trading in the red.

Its Bollinger Bands have seen a massive widening during yesterday’s surge, and while they have narrowed since then, they still remain fairly wide, suggesting strong activity even now.

For the most part, the price has been pushing the upper band, but the last few hours have seen a correction that widened the bands again, this time by pushing the lower one further down.

15-minute chart for PI/USDT (Source: TradingView)

The project’s Relative Strength Index (RSI) soared high yesterday, delving deeply into the overbought zone, and climbing all the way up to the value of 90. It then dropped to 60 as some traders took profit, only to climb to 90 again in a new wave of purchases.

When traders took profit for the second time, the RSI value dropped to 50 and then jumped to 70 one last time before a stronger sell-off took place, pushing the RSI to just above 30. Now, traders seem to be buying the dip, which is why its price started to slowly recover.

The RSI has reached the value of 40 as of the time of writing, slowly continuing the climb, which could continue throughout the day, unless the market sentiment turns strongly bearish, causing the prices to see another sharp drop.

Promising Alternative To Pi Network

One of the best alternatives to Pi Network right now is the first Solana Layer-2 project called Solaxy (SOLX) — a project that is currently still in ICO, but could introduce a major change for the entire Solana ecosystem.

Solaxy is a project that launched to address one of the SOL network’s biggest issues — scalability. Originally, Solana was created in response to Ethereum’s slow transaction speeds and high fees, offering a significantly faster and cheaper network. While it was successful at achieving this goal, now that its ecosystem has become quite developed, the amount of activity has turned out to be overwhelming for the network.

As a result, the Solana blockchain has started experiencing congestion, which has also led to transaction failures during particularly busy periods. In other words, Solana is simply not scalable enough to handle the amount of traffic currently on the network, which is where Solaxy enters the picture.

As a Layer-2 project, Solaxy is Solana’s first scaling solution, and it offers infinite scalability. Within its ecosystem, the project can guarantee zero failed transactions, and its integration into the SOL network could be a game changer for the entire Solana ecosystem. Not only that, but the project will also do the same for the Ethereum network, as it will run simultaneously in both ecosystems, connecting them as a bridge.

This is why its ICO blew up, as the demand for a capable scaling solution for both networks has skyrocketed. The project has managed to raise over $23.74 million through its presale in the last few months. Investors are rapidly buying its token, SOLX, which is selling for only $0.001648, as they expect its price to skyrocket after launch.

ClayBro, a crypto YouTuber with over 136k subscribers, is also bullish on Solaxy and its native SOLX token. In a recent video, he said that SOLX could lead the Layer-2 blockchain sector as the crypto market rebounds.

Learn more about Solaxy.

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