Algorand price could recover as Spain’s Air Europa, and TravelX drop NFT flight tickets
- A leading Spanish airline, Air Europa, has partnered with blockchain entity TravelX to introduce NFT flight tickets.
- The tickets will be available for purchase on TravelX’s blockchain platform.
- Analysts have predicted a break out in Algorand price as the utility of the altcoin rises.
Algorand is on track to make a comeback as a recent partnership between and airline and a blockchain platform increases its real-world adoption. Analysts have revealed a bullish outlook on Algorand price.
Algorand price on track to post gains
Algorand could soon power the world’s first NFT flight tickets, through a partnership between Spain’s Air Europa and TravelX, a blockchain firm. A leading Spanish airline, Air Europa, has partnered with blockchain platform TravelX to introduce NFTs.
The NFTTickets would be available for purchase on TravelX’s platform. Beginning April 11, the process will repeat every two weeks. Proponents believe Air Europa’s partnership could boost Algorand adoption.
Users buying Algorand collectibles will board a special flight between Madrid and Miami. This flight on November 29, 2022 would carry users to their destination. On presenting their collectibles, users can claim flight tickets from Air Europa.
In mid-2021, Algorand price suffered a consistent drop below the red monthly support, and formed a bottom before closing above it. Analysts believe in a bearish scenario, Algorand price could close above its support at $0.50.
Analysts have evaluated the Algorand price trend and predicted a rally in the altcoin. @kingthies, a leading cryptocurrency analyst observed the chart and revealed that Algorand vs Bitcoin reminds him of the cyclical BTC price trend. According to the analyst, Bitcoin price increases at a minimum two times a year, cyclically.
The analyst believes it missed February 2022, and the high is now due, therefore predicting a move up in Algorand.
$ALGO vs #BTC reminds me of 2016-2019 #DOGE vs BTC in terms of its cyclical and almost predictable twice-a-year pop up.
— Crypto Thies (@kingthies) April 16, 2022
It missed February 2022 however, and is due to make us some $. Set up looks nice for similar kind of moves up. pic.twitter.com/Yx506CJ63T
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
