Bitcoin Cash has been mirroring the overall growth pattern of Bitcoin, with its price almost surpassing the $250 resistance level before encountering a setback. Although Bitcoin Cash maintains this bullish momentum, it faces uncertainty following its removal from a crypto exchange.
EDX Markets Removes Bitcoin Cash from Listings
In an unexpected development, Bitcoin Cash (BCH) has been delisted from the EDX Markets cryptocurrency exchange. Users initially suspected that the exchange was discontinuing support for BCH, and rumors quickly circulated on social media. Eventually, the crypto exchange confirmed these rumors when a spokesperson disclosed that EDX Markets had indeed ceased its support for BCH.
In a departure from the usual practice, EDX Markets did not provide any reasons for delisting the cryptocurrency. Instead, users were directed to subscribe to the newsletter for updates on listings and to visit the website for information about supported coins.
Interestingly, this delisting coincides with rumors that EDX Markets might be considering the addition of XRP to its offerings. This move would make sense, given that many exchanges have shown interest in the cryptocurrency following Ripple’s legal victory over the SEC. Since then, XRP’s trading volume has been notably high, and crypto exchanges have been eager to be part of the action.
BCH Price Struggles to Maintain Its Position
After being rejected at the $250 level, the price of Bitcoin Cash (BCH) has faced challenges in continuing its previous trajectory. The drop to the $240 level led to the liquidation of a significant number of long positions before the bulls managed to regain control.
Nonetheless, BCH’s daily trading volume continues to exhibit strong momentum, surging by 36% in a single day. This demonstrates ongoing interest in the altcoin, with traders paying close attention to its market activity.
The primary obstacle to a breakout for BCH currently rests at the $250 level. If the price manages to surpass this resistance, the rally is expected to persist and may reach $270 before losing momentum. However, it remains a considerable distance away from its yearly high of $300.
As of the time of writing, BCH is trading at $243, reflecting a 3.75% weekly loss. Nevertheless, it has shown improved performance in the past day, recording a 2.23% increase.