Bitcoin Cash has followed Bitcoin’s overall growth trend, with the price almost clearing the $250 resistance before being rejected. While BCH maintains this bullish momentum, this is not entirely clear following the delisting of one crypto exchange.
EDX Markets removes Bitcoin Cash
In another unexpected blow, Bitcoin Cash (BCH) has been delisted from the crypto exchange EDX Markets. Users had initially suspected that the exchange ended support for BCH and rumors spread like wildfire on social media. Ultimately, the cryptocurrency exchange will confirm these rumors, with a spokesperson revealing that EDX Markets has indeed stopped supporting BCH.
Contrary to the norm, EDX Markets did not provide any indication as to why the cryptocurrency was delisted from the exchange. Instead, users were asked to sign up for the newsletter to receive updates on listings, and to check the website for supported coins.
Interestingly enough, this comes at a time when rumors are swirling that EDX Markets may be planning to list XRP. This would make sense considering that many exchanges have come out against the cryptocurrency following Ripple’s win at the SEC. Since then, XRP’s volume has been on the high side and crypto exchanges have been clamoring for a chance to get a piece of the pie.
BCH price struggles to hold
After the rejection of the $250 level, Bitcoin Cash (BCH) price has struggled to continue its previous trajectory. The drop to the $240 level shook out a good chunk of the longs before the bulls could take over again.
However, BCH’s daily trading volume is still showing good momentum after surging 36% in one day. If anything, this shows that there is still quite a bit of interest in the altcoin, with the trade attracting a lot of attention from market participants.
The main resistance to a breakout in BCH is currently at the $250 level. If the price can clear this resistance, the rally is expected to continue and could reach $270 before losing steam. But it’s still a long way from the annual high of $300.
At the time of writing, BCH is trading at $243 with losses of 3.75% on the weekly chart. However, it has performed much better over the past day, having risen 2.23%.
BCH price at $237 | Source: BTCUSDT on Tradingview.com
Featured image from Analytics Insight, chart from Tradingview.com