Litecoin is trading higher today as new developments take place in the industry which could see greater adoption for this crypto. A new partnership has been formed in the hospitality sector, which will very soon see travellers and holidaymakers paying for their travel bookings with Litecoin and other cryptos.
Expedia Partner Solutions (EPS) (an Expedia Group B2B company) has teamed up with Travala.com to offer a travel platform whose payment systems will feature a substantial cryptocurrency footprint. This partnership will enable Travala.com to accept cryptocurrency payments on behalf of more than 700,000 holiday, travel and lodging locations from the Expedia Group’s hotels.
Travala.com already has over 2 million listed hotels on its platform. Its partnership with EPS, which is mostly into the travel booking business for airlines and consumer brands related to aviation and travel, will bring together the ability to pay for a complete travel and lodging package using Litecoin, AVA, Bitcoin and at least 25 other cryptocurrencies.
This partnership could not have come at a better time. Surveys are showing that people are desirous of travelling once more and futuristic bookings for hotels is on the rise.
Technical Outlook for LTCUSD
After a period of calm, the price activity on the daily chart of LTCUSD is starting to pick up once more. Today’s marginal increase in Bitcoin prices seems to be pushing Litecoin price activity, which is higher by 4.45% today as the asset starts to challenge the upper border of the descending channel.
A breakout from this border allows LTCUSD to aim for the next upside target at 47.06 (9 April and 11 June highs). A continuing advance may then target the 49.35 resistance, where we have the tops of 9 May and 10 June. Further resistance targets lie at 52.20 and 55.65, with 59.69 and 63.22 still some distance away.
On the flip side, a rejection at the channel’s upper border may allow for a pullback to 42.15 former resistance, now acting as a support. Below this area, the 15 April and 12 May lows at 39.48 become the next downside barrier. Only a breakdown of this barrier and the channel’s lower border may open the door for 34.85 to become an essential piece of the price puzzle.