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Coinbase Rethinks Token Listings as 1M New Tokens Weekly Break Current System

Coinbase’s CEO stated that the platform’s token evaluation process is no longer sustainable, citing the creation of a million tokens weekly. He called on regulators to adapt to the rapidly expanding crypto landscape. Coinbase Sees Pressing Need to Overhaul Token Listings With Bold Block List Shift Coinbase CEO Brian Armstrong has called for significant changes CoinTurk News

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Cardano (ADA) In The Red: Struggles Persist Under $1.00

Cardano price started a fresh decline below the $1.00 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.00 level. ADA price started a fresh decline from the $1.020 zone. The price is trading below $1.00 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.9750 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.00 resistance zone. Cardano Price Settles Below $1.00 After struggling to stay above the $1.050 level, Cardano started a fresh decline unlike Bitcoin and Ethereum . ADA declined below the $1.00 and $0.9750 support levels. There was a break below a key bullish trend line with support at $0.9750 on the hourly chart of the ADA/USD pair. The pair even traded below the $0.920 support. A low was formed at $0.91645 and the price is now attempting to recover. There was a move above the $0.9220 level. Cardano price is now trading below $1.00 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.9350 zone. It is near the 23.6% Fib retracement level of the downward move from the $0.9998 swing high to the $0.9164 low. The first resistance is near $0.9550 or the 50% Fib retracement level of the downward move from the $0.9998 swing high to the $0.9164 low. The next key resistance might be $0.9680. If there is a close above the $0.9680 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term. Another Decline in ADA? If Cardano’s price fails to climb above the $0.9350 resistance level, it could start another decline. Immediate support on the downside is near the $0.9160 level. The next major support is near the $0.90 level. A downside break below the $0.90 level could open the doors for a test of $0.8650. The next major support is near the $0.8450 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.9160 and $0.9000. Major Resistance Levels – $0.9350 and $0.9680. CoinTurk News