5 March 2025, San Francisco – Taiko, the first based rollup scaling Ethereum, is bringing together the brightest minds in Ethereum to discuss based rollups, the next phase in Ethereum scaling.
During Eth San Francisco week, this event will feature major cryptocurrency and Ethereum speakers, including Vitalik Buterin, co-founder of Ethereum, Professor Dan Boneh, Stanford University Cryptography Pioneer, and Tomas Stańczak, CEO of Netheremind and Co-Director of the Etherem Foundation.
“We are proud to be hosting this inaugural event at such a pivotal moment for Ethereum. The network has grown and developed significantly since its inception, and we are now entering a new phase of development. Being permissionless is no longer an option but rather is central to Ethereum’s long-term success. Based rollups are at the forefront of making a usable, permissionless, and adaptable Ethereum possible. The Based Rollup Summit represents the first dedicated gathering of those pioneering minds taking Ethereum even further,” said Joaquin Mendes, COO of Taiko.
The speaker list is filled with innovators building in the based rollup and scalability space, including Near Protocol, Netheremind, Succinct, Espreso Systems, Spire, and Puffer.
Those attending will be able to get up to speed with the based rollup ecosystem and experience full access to the Exploratorium’s exhibits, placing based rollups in the larger context of technological development.
Attendees can also expect to talk and interact with founders, developers, investors, and visionaries shaping the future of Layer 2 solutions, cryptocurrencies, and artificial intelligence. Teams including a16z, Near, Succint, Bankless, Puffer, Lubin, Fabric, Espresso Systems, L2IV, SNZ Holdings, Hashed, and Stanford Blockchain.
”From developers to investors to founders to enthusiasts, the Based Rollup Summit is the opportunity to be part of a defining moment in the evolution of Ethereum scaling solutions,” said Mendes.
Stellar (XLM) has been up almost 19% over the last seven days, and its market cap is now close to $9 billion. The RSI has surged above 70, while the ADX shows rising trend strength, and the EMA lines confirm bullish momentum.
XLM is holding an uptrend and pushing toward key resistance around $0.30. However, if support levels fail, signs of overheating could lead to short-term pullbacks.
Is Stellar Overheating? RSI Hits 71.5
Stellar is currently showing strong bullish momentum. Its Relative Strength Index (RSI) climbed to 71.5, significantly from 55.2 just three days ago.
This rapid increase highlights a surge in buying activity, reflecting growing investor confidence in XLM’s short-term price prospects. The sharp move also suggests that Stellar has quickly transitioned from a neutral to a more aggressively bullish setup, capturing attention among traders who closely monitor momentum indicators for entry and exit signals.
Such a fast rise in RSI often indicates intense demand, but it can also signal that the asset is approaching stretched conditions, which may increase volatility.
The RSI, or Relative Strength Index, is a technical indicator used to assess the strength and speed of an asset’s recent price movements. It operates on a scale from 0 to 100, where readings above 70 generally suggest an asset is overbought, and readings below 30 indicate oversold conditions.
When the RSI crosses above 70, it often warns that the asset could be due for a pause, consolidation, or minor correction as buying momentum overheats.
With Stellar’s RSI now at 71.5, XLM has officially entered overbought territory. This could mean that while bullish sentiment remains dominant, the price is increasingly vulnerable to pullbacks if momentum slows or traders begin locking in profits after the recent surge.
XLM Trend Momentum Builds as Buying Pressure Dominates
The Stellar Directional Movement Index (DMI) chart signals strengthening trend momentum. Its Average Directional Index (ADX) is currently at 37.41, up from 26.56 just two days ago.
This sharp increase in ADX suggests that the trend is gaining strength, confirming that market participants are firmly committed to the prevailing direction.
An ADX above 25 generally indicates the presence of a meaningful trend, and with XLM’s ADX now approaching 40, the uptrend is well-established and becoming increasingly powerful, attracting more attention from momentum traders and technical analysts.
The ADX, or Average Directional Index, measures the strength of a trend. It does not indicate the direction. It moves between 0 and 100. Readings below 20 show a weak or non-existent trend. Readings above 25 suggest a strong and sustainable trend is underway.
Along with the ADX, the DMI tracks two other important lines. The Positive Directional Indicator (+DI) measures upward pressure, while the negative directional indicator (-DI) measures downward pressure.
XLM’s +DI is now at 33.59. It was at 22.81 two days ago but is slightly down from a recent peak of 36.47. This shows some short-term volatility, even with strong overall buying pressure.
Meanwhile, the -DI has dropped sharply to 9.91 from 19.8 three days ago. This signals that selling pressure has weakened considerably.
Taken together, these movements confirm that XLM remains firmly in an uptrend. However, small fluctuations in +DI suggest that while bulls are still in control, the pace of buying could face brief pauses or small pullbacks as the rally matures.
Stellar Bullish Trend Intact, but Key Support at $0.279 Must Hold
Stellar’s Exponential Moving Averages (EMAs) are flashing strong bullish signals, with the short-term EMAs currently positioned above the long-term ones. This classic pattern reflects sustained upward momentum.
The next major resistance level sits around $0.30, a psychological barrier that could briefly slow XLM’s advance.
However, if Stellar manages to break decisively above $0.30, the path higher opens toward $0.349 and potentially $0.37, which would mark the first time XLM trades above $0.35 since March 2.
On the downside, the support level at $0.279 has become crucial for maintaining the bullish structure.
A successful retest of this support could serve as a healthy consolidation before another leg higher, but a clear loss of $0.279 could trigger a more meaningful correction.
If that happens, XLM price could slide toward the next major support at $0.258, and if selling pressure accelerates, deeper retracements toward $0.239 or even $0.20 are possible.
Pi Network has been facing a challenging period after its price dropped by 18% in the last 48 hours.
This drop has invalidated its recent attempt to recover losses from March. The altcoin is now vulnerable to further corrections, raising concerns among investors.
Pi Network’s Bearishness Could Grow
The Relative Strength Index (RSI) continues to indicate that bearish momentum is still present. Currently stuck below the neutral line of 50.0, the RSI is signaling a lack of bullishness for Pi Network. This suggests that the altcoin may face additional downward pressure in the coming days.
The ongoing negative sentiment is compounded by the general market’s lack of momentum. Investors are hesitant to buy Pi Network due to the failure to sustain price recoveries. With no clear bullish signal from the RSI, the risk of further declines remains high.
The Bollinger Bands are narrowing, indicating that Pi Network may soon experience a surge in volatility. This contraction typically signals an impending price breakout or breakdown. However, if the bearish momentum continues, Pi Network could face a sharp decline, confirming the downward trend.
Given the current squeeze in the Bollinger Bands, Pi Network’s price could see a significant move soon. If the bearish trend holds, this volatility may drive the price lower, exacerbating the altcoin’s already weak performance. The uncertainty surrounding the market adds to the vulnerability of Pi Network.
Pi Network’s price is currently at $0.613, but it is still stuck below the $0.617 resistance level. After the 18% drop in the last two days, the altcoin remains under pressure. If the price continues to face downward momentum, it may struggle to break through key resistance levels.
The next major support level for Pi Network is $0.519, which could be the next target if the selling pressure intensifies. A drop to this level could be a precursor to further declines, potentially bringing the price below $0.500. This would significantly impact investors holding the altcoin.
However, if Pi Network can reclaim the $0.617 support, it could break the downtrend and rise toward $0.710. Breaching this resistance would invalidate the bearish outlook and could spark a recovery, giving investors hope for a reversal.
