Bitcoin Cash Faces Delisting from EDX Markets
Bitcoin Cash (BCH) has experienced a surge in price, almost surpassing the $250 resistance level before facing rejection. Despite this bullish momentum, BCH is now facing a new challenge as it has been delisted from the EDX Markets crypto exchange.
Speculations about the delisting started circulating on social media, and users suspected that the exchange was ending its support for BCH. Eventually, these rumors were confirmed by a spokesperson from EDX Markets, who stated that the exchange would no longer offer support for Bitcoin Cash.
Surprisingly, EDX Markets did not provide any specific reasons for the delisting. Instead, users were directed to sign up for the newsletter to receive updates about listings and to check the website for supported coins.
Interestingly, this delisting comes at a time when there are rumors that EDX Markets might be considering listing XRP. Many exchanges have been hesitant to support XRP after Ripple’s legal victory against the SEC. As a result, XRP’s trading volume has increased, and exchanges are eager to capitalize on its popularity.
Following the rejection from the $250 level, the price of Bitcoin Cash has struggled to maintain its upward trajectory. The fall towards the $240 level caused a significant number of long positions to be liquidated before the bulls regained control.
However, despite the price struggle, BCH’s daily trading volume has seen a 36% increase in just one day. This indicates that there is still considerable interest in the altcoin, with market participants closely monitoring its trading activity.
The major resistance for a BCH breakout currently lies at the $250 level. If the price manages to surpass this resistance, the rally is expected to continue and could potentially reach $270 before losing momentum. However, it is important to note that BCH is still far from its yearly high of $300.
Currently, BCH is trading at $243 with a 3.75% loss on the weekly chart. However, it has performed better in the last day, experiencing a 2.23% increase.
It is worth noting that the source of the BCH price is Tradingview.com.
Featured image from Analytics Insight, chart from Tradingview.com.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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