If the price of ADA loses the support at USD 1.05, the ground would be clear for USD 0.70. Confirmation of a significant rally would allow for an increase to USD 1.60 if the value broke through the resistance at USD 1.19.

Markets are suffering the effects of pressure from negativity, which can hurt the value of Cardano (ADA) quite a lot. Currently, the price is teetering above a level that could determine strong selling in the future.

ADA is trading at around USD 0.99 and has accumulated a loss of 8% in the last week. Its trading volume is above USD 993.60 million, and its market capitalization is about USD 31.86 billion. The cryptocurrency occupies 7^th place in the ranking, according to CoinGecko.

The little determination of buyers currently does not allow the profits of the cryptocurrency to spread too far. The addition of ADA to the stock conversion rate calculator of Google caused it.

A growing number of people are interested in that cryptocurrency, which shows that the market for those assets is an economic innovation.

Although the fundamentals remain strong and continue to improve, the general downward pressure could cause more problems in the short term.

The following analysis will help to know where the price of ADA is heading next.

Weekly Technical Analysis of the Price of Cardano

The weekly ADA/USDT chart clearly shows that the price is around USD 1.05 and is currently undergoing a new challenge.

Given that the bearish inclination in the last few months remains solid, the price could break through that immediate support level in the short term.

However, if ADA breaks through the support at USD 1.05, the ground will be clear for USD 0.70. Since the next lower level at USD 0.34 is quite far away, there could be a rally in the medium to long term.

The price must break above the resistance at USD 1.46 to think that the bulls have regained control of the trend.

Short-Term Levels in the Price of ADA Price to Consider

The Cardano daily chart indicates that the price refuses to lose the support at USD 1.05. That is evident because it rejects low prices and creates a zone that extends to USD 0.91.

There is a marked bullish divergence due to the weakness of sellers to create an effective lower low. That could be a sign that there will be a considerable respite in the coming days.

There will be a confirmation of a significant rally if the value of ADA breaks through the resistance at USD 1.19. That move in the price would leave the ground clear for USD 1.60.

If buyers do not take control soon, the probabilities will remain slightly on the bearish side.

It is still early to tell precisely where the Cardano price will be heading in the coming days. However, if the trend shown on the charts continues, there could be a new bullish rally in the medium and long term.

By Alexander Salazar

Public employees and retirees receive payments in petro. The cryptocurrency’s price increased in other markets but was undue to high demand.

The “petro” has become a reference in the Venezuelan routine and yet another item of its financial structure. The Venezuelan government launched the national currency as the alternative solution for the nation and its crushed economy, an economy laid low with devaluation, hyperinflation, internal political-commercial struggles, and international sanctions.

The goal was to count on a currency backed by goods like oil, gas, gold, and precious stones like diamonds. Therefore, with centralized development, this asset got created to fight against the so-called war of finances.

The petro came to light to spice up the monetary sovereignty, overcome the blockade applied by the United States of America, and achieve new methods to receive financing from friendly nations.

To make this strategy work, the executive encouraged its internal commercial use, sustained a series of conversations with various companies abroad so that it would get accepted as a payment method, and favored its reception within the country’s public entities for government measures, procedures, and daily routines.

Regulations Keep Encouraging Petro and Also Bolívar Over Other Currencies and Assets

However, the petro failed to adapt to Venezuelan society as the government desired, nor did it manage to seduce international entities. With a dollarized economy and citizens trying new financial methods, the country’s commercial sector just kept carrying out its activities without the petro.

The petro serves to purchase primordial goods like gasoline in verified places, among some merchants that accept its use, and it also works with activities in the migratory field, just like the purchase of airline tickets, taxes, and documents.

Economists, CEO, and experts in digital currencies highlight that with the increase of signs in businesses that accept the petro, some question arises about how many people are using the Venezuelan cryptocurrency today.

Experts Share their Opinion

Some experts highlighted that using the petro as a method of payment happens because workers, public employees, retirees, and other citizens receive a substantial part of their payments with this digital currency.

The asset enters their wallets on the Patria subsidy platform or in the PetroApp application; once they receive it, they’ll use the digital asset to carry out payments to third parties.

Likewise, among the immense population in Venezuela, there is still a bunch of citizens that keep these assets and even hold them because they think their use would be obligatory within the years to come. Therefore, to anticipate the monetary disaster that this situation would create in the upcoming years, many citizens prefer to hold petro in their reserves.

By: Jenson Nuñez

The small and sunny country has recently welcomed the Bitcoin Family to its shores. Closer examination reveals a growing community of Bitcoiners who enjoy the glitter of not paying taxes on their crypto.

When cryptocurrencies first appeared in the financial world, many people were skeptical about them. Governments primarily felt threatened because digital currencies dispelled the need for central banks. Just over a decade later, the mainstream adoption of cryptocurrencies has come a long way.

There is no denying that cryptocurrencies have several advantages, which is why many enthusiasts and investors are joining.

Europe remains a top destination for investors in all fields, and cryptocurrencies are no exception. However, some countries are friendlier than others. So, which countries favor the use and investment of cryptocurrencies? Portugal seems to be one haven for cryptocurrencies, and we will explain the reasons for it.

Portugal: A Haven for Bitcoin investors?

While Switzerland is the most crypto-friendly jurisdiction in Europe, Portugal is getting ahead of itself. In fact, the Republic offers more than just quality-of-life improvements for Bitcoin (BTC) owners, including an attractive tax environment and a growing Bitcoiner community.

Cointelegraph recently interviewed the Bitcoin Family, who recently relocated to Portugal, and learned that there was more to chasing “300 days of sunshine” and “cheap coffee.”

Didi Taihuttu, father and husband of the Bitcoin Family, first spoke to Cointelegraph six years ago. In 2016, he rose to cryptocurrency fame after selling all of his family’s possessions and betting on BTC.

Although Taihuttu’s flamboyant character grabs the headlines, plans for Portugal’s takeover of Bitcoin Beach, as well as budding communities of Bitcoiners, give rise to a pro-bitcoin Portugal, supported by crypto-friendly tax laws and a low cost of living.

Portugal’s beginnings as a Bitcoin-friendly country began in earnest six years ago. A 2016 law from the Portuguese tax authority ruled that since people do not consider cryptocurrencies as currencies, they are not legal tender in Portugal and therefore not subject to tax.

For Taihuttu, the Bitcoin community has exploded since then and there are “many” in Cristiano Ronaldo’s country. He told Cointelegraph that, “I know that the big ones (Bitcoiners) already live in Portugal. They are anonymous. They haven’t gone public like me, but they’re already here. They spend their money on houses, they spend their Bitcoins on everything.”

Merchant adoption is underway: Some Portuguese residents can pay their energy bills in BTC, while Spanish startup BitBase is bringing more Bitcoin ATMs and shops to major cities. Coinmap says that there are already 57 merchants and retailers in the Lisbon area alone that accept Bitcoin.

Businesses that only accept BTC are also emerging in the Iberian country. John Carvalho, CEO of Synonym, recently moved to Portugal, and Aceita Bitcoin, or “Accept Bitcoin,” a non-profit group of BTC enthusiasts, is gaining steam.

Tiago Vasconcelos, the Bitcoiner behind Aceita Bitcoin, inspired by El Salvador’s Bitcoin Beach experiment, has set out to make Bitcoin Lightning payments widely accepted in his country.

He told Cointelegraph that he is “hoping merchants will accept the challenge I sent to experiment with having Bitcoin as a payment option for the summer,” adding that Portugal is “very friendly” to Bitcoin. Vasconcelos explains that, “Portugal is not taxing cryptocurrencies and this may be the best time, especially for people, to start learning about and interacting with technology and get exposed to the best savings account they will ever have.”

Behind the Bitcoin Expansion in Europe: The Taihutu family

Better known as “the Bitcoin Family”, the Taihutus changed their entire lives in 2017 to dedicate themselves body and soul to this well-known cryptocurrency: they sold absolutely everything and invested it in Bitcoin to start a life on the road. “We got into Bitcoin, because we wanted to change our lives,” said Didi Taihuttu, the patriarch of this peculiar family a few years ago.

These Dutch knew how to take advantage of the potential and volatility of the cryptocurrency before it took off, and have managed to live since then thanks to peak values ​​of around $69,000 per Bitcoin. Now they are around $43,000 for each unit.

Portugal effectively doubled its crypto-friendly position in 2021. The country is actively facilitating research activities for Blockchain and crypto companies.

For Taihuttu, moving to Portugal is a no-brainer. “Portugal should become the new haven for Bitcoiners,” he revealed in an interview scheduled for publication.

By Audy Castaneda