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Crypto Industry News:
Leading cryptocurrency exchange Binance announced in its blog that it has started working with the TravelByBit crypto startup to introduce a reward card that facilitates cryptocurrency payments on major travel websites.
According to the announcement, the card will work like a traditional prepaid card with access to additional rebates and rewards, which users will be able to load using Bitcoin, Binance USD, Binance Coina and Ontology.
The card will be issued at the beginning of next year and will initially be addressed to travelers in the Association of Southeast Asian Nations, Australia and Europe, with plans for gradual expansion.
The service will allow customers to book flights and hotels through major websites, including Booking.com, Expedia, Agoda and Ctrip, as well as their own TravelByBit platform.
TravelByBit is not the first service enabling users to travel thanks to cryptocurrencies. Recently, there have been reports that the Travala cryptocurrency booking company has announced that it will now allow its clients to book any hotel that can be booked via cryptocurrency via Booking.com.
Earlier this summer, the co-founders of the Scandinavian air carrier Norwegian Air announced plans to launch their own cryptocurrency exchange, which will then make it easier for the airline to accept cryptocurrency payments.
Technical Market Overview:
The ETH/USD pair is currently testing the key technical resistance located at the level of $152.28 and even a new local high was made at the level of $154.78. Nevertheless, the move upwards was made in three waves only, so it looks like a typical simple corrective move during a downtrend. When the correction is terminated, the market should resume the downtrend. The key short-term support is seen at the level of $136.98.
Weekly Pivot Points:
WR3 - $213.59
WR2 - $198.67
WR1 - $165.68
Weekly Pivot - $151.03
WS1 - $118.96
WS2 - $103.42
WS3 - $72.28
Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another wave down.
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