The Avalanche Summit is scheduled for March 22nd to 27th
This is the project’s inaugural summit and will be held in Barcelona, Spain
Speakers include several founders and CEOs of crypto projects
AVAX could rally to $100 ahead of the summit as the event inches closer
However, a death cross is on the horizon for AVAX on the daily chart
The Avalanche project is scheduled to host its inaugural summit between the 22nd and 27th of March this year. The event, dubbed the Avalanche Summit, will be held at the Poble Espanyol in Barcelona, Spain.
The one-of-a-kind event is aimed at bringing together ‘the most respected thought leaders, developers, researchers, and makers building the next-generation of Web 3.0 applications to discuss hot topics and frequently asked questions.’
At the time of writing, the following leaders in the crypto-verse have been scheduled to speak at the event.
David Olsson, Global Head of Institutional Sales at BlockFi
The speakers will discuss ‘the future of NFTs, game-changing trends in DeFi and GameFi, the metaverse, interoperability, user experience and design for Web 3.0 applications, growing a community on Avalanche, what intrigues crypto venture capitalists right now, and more.’
AVAX Could Retest $90 Ahead of the Avalanche Summit
Anticipation of the six-day event in Spain could increase Avalanche discussions on the various social media platforms. Consequently, the price of AVAX could potentially benefit leading up to the event.
A quick glance at the daily AVAX/USDT chart below reveals that the digital asset is trading above the 200-day moving average (green) after trading below the crucial line earlier this week.
Additionally, the daily MACD is about to cross the signal line in a bullish manner around the baseline. The daily MFI and RSI are in neutral territory at 35 and 52 respectively. This, in turn, means that Avalanche (AVAX) could gather enough momentum to revisit the $100 price ceiling that has acted as both resistance and support for the digital asset since mid-November last year.
Avalanche has a Pending Death Cross on the Daily Chart
However, a second glance at the daily AVAX/USDT chart reveals that the digital asset has a death cross on the horizon. The 50-day moving average (white) looks set to cross the 200-day moving average (green) sometime this week.
Therefore, caution is advised when longing Avalanche (AVAX) on the various futures platforms.