Avalanche is getting a lot of attention again. During a market-wide stagnation, the AVAX coin is up nearly 36%, in just 6 days. What’s driving the price?
A big event, with a good cast
A major aspect currently affecting the AVAX price is definitely the conference taking place in Barcelona, Spain. It started on Monday, March 22 and is scheduled to run until March 27. Both the topics covered and the line-up were very interesting, which makes the sudden price bump not surprising.
One of the main subjects of discussion is the cooperation between Chainlink and Avalanche. Ava Labs Founder & CEO, Emin Gun Sirer, and Chainlink Co-Funder, Sergey Nazarov, are in attendance. Another interesting topic with an equally interesting guest speaker is “Build Web3 with Coinbase Cloud and Coinbase Wallet”. In the role of the speaker in this case we can observe JM Cho, being a Coinbase Software Engineer.
Throughout the conference, there is a lot of talk about the further development of the Avalanche network, its roadmap and the future it has in front of it. Its consensus Snowman is discussed. Many topics are devoted to DeFi adoption and the role AVAX plays in that particular space. Popular issues such as the development of Web 3.0, and the Metaverse will also be discussed at length.
In addition to the aforementioned figures, the following are also scheduled to speak:
Managing Editor of The Block, Andrew Rummer; Head of Special Operations OpenSea, Anne Fauvre-Willis; Chief Product Officer BitGo, Chen Fang; VP of Innovation Mastercard, Harold Bosse. Such good companies have a right to suggest that the conference will be extremely fruitful. Not surprisingly, AVAX’s investor interest picked up steam at the same time.
AVAX’s response
Although the event had been planned for a long time, initially the AVAX coin did not react to it in a particularly impressive way. It wasn’t until March 14 that buying of the event began. From that day until March 20, AVAX rose nearly 36%. Currently, it remains in a temporary consolidation phase. It appears to be cooling the RSI indicator, on which a divergence (yellow lines) has appeared. The MACD is also cooling down. It is significant that AVAX broke all key moving averages during its move, including the 200-day (green line). Their maintenance may indicate potential further upward movements. It is therefore worth listening to the threads coming out of Barcelona. The breakthroughs may trigger a continuation of the rally.
