Crypto Alert: Why Solana, Axelar, and Pi Network Are Making Waves This Week

Top 3 Cryptos to Watch This Week: Solana, Axelar, and Pi Network Could Surprise Investors

With rising global tensions and the U.S. Federal Reserve holding interest rates steady for the sixth straight month, the crypto market is going through a storm. After a record-breaking May, Bitcoin has dropped from a high of $111,695 to under $102,000 as of June 22. This sudden dip has shaken investor confidence and triggered a wave of sell-offs.

Major altcoins have also crashed, with coins like AB, SPX6900, Fartcoin, Virtuals Protocol, Sonic, and Story falling by more than 20% in a week.

Despite the chaos, three altcoins are catching investor attention this week: Solana (SOL), Axelar (AXL), and Pi Network (PI). Each faces major events, technical shifts, and news catalysts that could cause big moves in either direction.

 Why This Week Is Crucial for Crypto Traders

• Geopolitical uncertainty is rising globally, increasing market volatility.

• The Fed’s interest rate freeze is adding pressure to risky assets like crypto.

• Bitcoin and altcoins are under heavy selling pressure, but technical patterns show potential rebound zones.

 Solana (SOL): $255M Token Unlock Could Shake the Market

Why Solana Is in the Spotlight

Solana will unlock tokens worth over $255 million this Monday—one of its largest unlocks in recent months. Token unlocks often lead to short-term bearish pressure as more tokens enter circulation, increasing supply.

Adding to the pressure, meme coins in the Solana ecosystem have taken a hit, causing the total market cap of these coins to drop from over $12 billion to under $10 billion in just a few weeks.

Technical Setup: Bullish Flag Formation

Despite the sell-off, Solana’s price chart shows a bullish flag pattern, a classic setup that often leads to a breakout. The flag pattern forms after a strong upward move, followed by a slight downward or sideways consolidation.

If Solana bounces from current levels, it could retest the top of the flag at around $187.30—a potential 40% upside from current prices.

Background on Solana

Solana was created by Anatoly Yakovenko, a former Qualcomm engineer, and co-founded in 2017 alongside Greg Fitzgerald and Raj Gokal. Known for its ultra-fast transaction speeds and low fees, Solana has become a top 10 cryptocurrency by market cap.

 Axelar (AXL): Bearish Pressure Builds Ahead of $5.4M Unlock

What’s Happening With Axelar

Axelar has been in a strong downtrend over the past few weeks. The price has tumbled from a high of $0.6291 to a low of $0.3464, the weakest level since June 10.

This Friday, the network will unlock tokens worth over $5.4 million, equivalent to 1.57% of AXL’s circulating supply. Token unlocks like this often lead to additional downside, especially in a bearish environment.

Technical Warning Signs

Axelar has fallen below its 50-day moving average, a key support level. If the bearish momentum continues, the next support zone is around $0.2740, which was last seen in April.

About Axelar

Founded in 2020 by Sergey Gorbunov and Georgios Vlachos, both of whom worked on the Algorand blockchain, Axelar is focused on cross-chain communication. It allows decentralized apps to work across multiple blockchains securely and efficiently.

AXL is the native token used for governance, staking, and gas fees within the Axelar network.

 Pi Network (PI): Pi Day 2 Could Be a Game-Changer

Key Event: Pi Day 2 on June 28

Pi Network’s Pi Day 2 on June 28 is generating major buzz. Traditionally, the team behind Pi Network makes big announcements on their Pi Days, and this one is no different.

The Pi community is also watching the conclusion of the “.pi” domain auction, which has attracted millions of bids globally. This could be a sign of increasing developer and enterprise interest in the Pi ecosystem.

Technical Setup: Falling Wedge Breakout Incoming?

The Pi price chart is showing a falling wedge pattern, which is widely seen as a bullish reversal indicator. If the pattern plays out, Pi could see significant upward movement following the June 28 event.

What Is Pi Network

Pi Network aims to bring crypto mining to smartphones, making it accessible to the masses without draining device battery life. It’s still in a development phase but has millions of users worldwide and a strong community presence.

Pi has yet to fully launch on public exchanges, but its testnet trading and utility use cases have been expanding.

 What to Watch This Week

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