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The Pi Network price surged 13% in the last 24 hours to trade at $1.70 as of 12:19 a.m. EST, with trading volume skyrocketing 129% to $932 million.
This rise in the PI price comes as the crypto market recovers and Pi day nears. Should traders expect more upside?
Pi Network Price Shows Signs Of Recovery
After a strong bullish rally that took the PI price to $3.01, the price saw a sharp correction, retracing towards the 0.618 Fibonacci level at $1.2083 before bouncing back. This recovery suggests that buyers are stepping in at lower levels, preventing further downside.
Currently, the Pi Network price is trading above the 50-period Simple Moving Average (SMA) ($1.6501), which could act as a support level.
The price of PI is now testing the 0.382 Fibonacci level ($1.8976) as resistance. A successful breakout above this level would indicate further bullish momentum, potentially leading to a retest of the $2.32 resistance (0.236 Fib level).
The Relative Strength Index (RSI) is at 59.28, suggesting increasing bullish momentum but still below the overbought zone (above 70). If the RSI remains above 50, it confirms a shift towards bullish control.
PI Price Prediction
Given the current setup, PI has a bullish bias, but it must clear important resistance levels to sustain an uptrend.
If the Pi Network price breaks above $1.8976, there could be further upside towards $2.32 and possibly $2.50-$3.00 in a stronger rally.
However, if the price of PI fails to break $1.8976, it could pull back to $1.55 (0.5 Fib) or even retest $1.20 (0.618 Fib) as support.
Meanwhile, investors are buying into a new layer-2 Solana meme coin called Solaxy (SOLX). According to 99Bitcoins, a popular crypto YouTube channel with over 725K subscribers, Solaxy has the potential to soar 100X post-launch.
Solaxy Presale Crosses The $26 Million Mark – Next 100X Crypto?
Solana is best known for its high-speed and low-cost transactions, which has led to a massive meme coin frenzy over the past few years.
Due to this traction, Solana has often experienced network outages and transaction failures, the latest being during the TRUMP and MELANIA coin launches in January. These issues are a major headache for DeFi users, NFT enthusiasts, and meme coin traders.
The Solaxy crypto project is a layer-2 scaling solution developed for the Solana blockchain. It aims to enhance decentralized applications (dApps), reduce transaction speeds, slash network costs, and improve scalability. The SOLX token serves as the core of the ecosystem.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Investors are buying into this idea, with the project’s total presale raise already standing at over $26.08 million.
Moreover, once launched, Solaxy will provide a platform where developers can build decentralized applications or launch new tokens without compromising (and possibly even improving) Solana’s layer-1 capabilities.
Solaxy also offers holders who stake the project’s SOLX token a huge annual yield of 156%.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001662 each using BNB, ETH, USDT, or a bank card. Anyone looking to buy the meme coin at the best rate will want to act fast, because SOLX’s price will undergo a presale increase in just over 32 hours.
Visit the official Solaxy website.
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