AVA price surged sharply on Wednesday as travel demand picked up. The Travala token climbed to a high of $1.2400, its strongest level since August 1. That peak represented roughly an 81% increase from this month’s low and pushed AVA’s market capitalization above $50 million.
Ongoing travel demand
Travala.com is a relatively small but fast-growing company that leverages blockchain technology to disrupt the global travel industry.
The company operates a platform where travelers can book more than 2.2 million hotels and other accommodations using cryptocurrencies. It competes with established travel services such as Priceline, Expedia, and TripAdvisor.
As a blockchain-first business, Travala introduced AVA, its native token. AVA can be used to pay for hotel bookings and other travel services and exists across multiple blockchains, including Binance Chain (BEP-2), Binance Smart Chain (BEP-20), and Ethereum (ERC-20).
Holding AVA brings several advantages when booking travel. Token users receive a 3% discount on total booking fees and can also earn up to 2% cashback. Additional perks include voting rights within the platform and access to the proof-of-travel NFT program.
AVA’s price has strengthened in recent months alongside the global travel recovery. According to Travala’s monthly reporting, users booked 8,433 room nights in July and completed 2,057 flight bookings. Revenue increased by 48% year-over-year, and the number of Smart members rose to 6,568.
Moreover, over 16.7% of AVA’s circulating supply has been staked by Smart members to earn rewards, and approximately 75% of bookings on Travala were paid with cryptocurrencies.
Given this momentum, AVA’s price has rallied as investors anticipate further growth driven by the travel industry’s rebound. Similar travel-focused companies have also seen share prices climb amid renewed demand.
AVA price forecast
On the four-hour chart, AVA has exhibited a bullish trend in recent days. The token advanced from June’s low of $0.4570 to the current high near $1.2490, moving above the 25-period and 50-period moving averages as well as an ascending trendline.
The Relative Strength Index (RSI) has entered overbought territory. With that indicator elevated, a corrective phase is possible as sellers may push the price back toward the next significant support level around $0.8487.