As the Litecoin halving date draws nearer, LTC has continued to drive its adoption in a number of ways. According to reports, Litecoin Foundation is collaborating with TravelbyBit, a crypto travel booking platform. The move will make it possible to pay in Litecoin for one million hotels and flights around the world.
TravelbyBit will be the travel partner for Litecoin Summit which is scheduled to take place in Las Vegas on October 28-29.
When speaking about the initiative via a press release, Litecoin’s creator, Charlie Lee, who is also managing director of Litecoin Foundation, said the partnership “is an indication of the benefits of adopting Litecoin and crypto payments.”
CEO of TravelbyBit, Caleb Yeoh, agreed with Lee. He added that the initiative makes it “easy for everyone to become a part of the crypto movement, which is definitely an important step for more crypto adoption.
Litecoin (LTC) Price Today – LTC / USD
This Isn’t the First Time TravelbyBit Has Used Litecoin
This isn’t the first time TravelbyBit has used Litecoin. In early the part of 2018, the platform collaborated with Australia’s Brisbane airport to begin accepting payments in Bitcoin, Ethereum, Dash, Steem, and Litecoin.
This allowed travelers to use crypto for the payment of food, drinks, travel essentials, and souvenirs, in domestic and international terminals.
Now that Litecoin is readily available for one million flights and hotels globally, the partnership with TravelbyBit might help give Litecoin a push further in its mainstream adoption objective.
Litecoin Price is the Bullish in Short-term and Medium-term
Litecoin price has seen a brief period of stable prices in the past seven days after dropping by 0.2%. In the last 24 hours, the price of Litecoin has dropped a total of 3.34% bringing the coin’s current price to $130.
For the short term outlook of LTC/USD, the price forecast for Litecoin is bullish. However, for the current bullish patten to continue, there has to be a break above $145 pretty soon if not the bears may manage to sneak in and take control of LTC markets.
If sellers eventually regroup and push LTC market under the $130 support, we can expect another immediate support at $130. Under $130, there’s a further support at $126, $122 and $120. Should sellers continue to move further lower, we can also find more support at $120, $118, $110 and $100.
For the medium term outlook, Litecoin price is most certainly going to stay in the bullish territory. This is true considering the fact that the coin saw a 131% increase in the last 3 months. Should buyers begin to push markets higher once more, then we can expect the immediate resistance positions to be above $140 and $145 both of which are resistance levels.
In another scenario, if the bulls move over $145, there will be higher resistance points at $150 and $135.82. In the event that buyers continue to push Litecoin price above $136, the following resistance level is expected be at the long term bearish point that is the .886% Fibonacci Retracement position at $160.99.
What the Technical Indicators for Litecoin Say
RSI has taken a tumble from the overbought positions to its current location at the 50 level. If RSI can rebound from 50 and go higher once more, we can expect to see the bulls maintaining the market momentum hence, causing Litecoin price to rise again before the Litecoin halving date.