Cardano market overview: Travala adds ADA, market reaction muted
- Travala is the world’s leading cryptocurrency-friendly hotel booking service.
- ADA/USD drops below the $0.425 level.
Cardano announced a huge partnership with Travala, the world’s leading cryptocurrency-friendly hotel booking service. In a press release, Travala said:
Adding ADA as a payment option is envisaged to further drive the use of ADA for travel-related services and promote Travala.com among the ADA community who can now book accommodation globally via the Travala.com platform.
This partnership will help in driving up ADA’s usage. In fact, Travala will also be giving a special promotional offer to anyone who uses ADA to book hotels:
ADA holders booking accommodation via Travala.com with ADA will also be entitled to an exclusive 5% ADA-Back for all bookings paid in ADA until the 7th November 2019 as a promotional offering.
ADA/USD daily chart
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ADA/USD has found resistance at the $0.0434 and the upper 20-day Bollinger band and has fallen to $0.0417. The 50-day Simple Moving Average (SMA 50) curve acts as market support. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum, while the Relative Strength Index (RSI) indicator is trending around 55.25. The Bollinger Band is widening, which shows increasing market volatility.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
