{"id":415279,"date":"2020-02-19T22:26:43","date_gmt":"2020-02-19T22:26:43","guid":{"rendered":"https:\/\/wncen.com\/?p=415279"},"modified":"2020-02-19T22:49:54","modified_gmt":"2020-02-19T22:49:54","slug":"ethereum-nosedives-to-250-in-massive-crypto-market-dump","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-nosedives-to-250-in-massive-crypto-market-dump\/","title":{"rendered":"Ethereum Nosedives to $250 in Massive Crypto Market Dump"},"content":{"rendered":"

The number two cryptocurrency by market cap, Ethereum<\/a>, just experienced a massive dump alongside many other major crypto assets, including Bitcoin and the rest of its altcoin brethren.<\/span><\/p>\n

Is the 2020 crypto rally finally finished, or is this just another opportunity to buy the dip across the crypto market before further upside in the days ahead.<\/span><\/p>\n

Ethereum Drops to $250 in Crypto Market Mayhem<\/h2>\n

Ethereum<\/a> just lost as much as 10% of its value in a matter of just one hour, as the smart-contract focused altcoin\u2019s rally may finally be finished.<\/span><\/p>\n

The cryptocurrency has been rallying since the start of 2020 and had been up to over 100% at recent highs since the year first began.<\/span><\/p>\n

Related Reading | Tezos & Ethereum: These Top Performing Altcoins Flash Dangerous Sell Signals<\/a><\/strong><\/em><\/p>\n

But the number two cryptocurrency by market cap has struggling to set a new high, and after this latest collapse that wiped out 10% from the value of Ethereum, it\u2019s starting to look like the crypto bull market is taking a quick break.<\/span><\/p>\n

In a matter of an hour, Ethereum<\/a> fell from highs around $286 to as low as $250, before finding support.<\/span><\/p>\n

\"ethereum<\/p>\n

The current local high of the entire rally is set at $290, failing to reach its 2019 high of $364<\/a>.<\/span><\/p>\n

Resistance from $285 all the way up to $300 may have proven to be too powerful for bulls to break through.<\/span><\/p>\n

Bearish crypto traders may have the high volume, top-like reversal they were looking for, however, the drop failed has thus far failed to set a lower low on daily timeframes.<\/span><\/p>\n

On Sunday, Ethereum<\/a> dropped to $236 before rebounding back toward local highs.<\/span><\/p>\n

But the rally has thus far failed to hold and was rejected back down to find support.<\/span><\/p>\n

Is the Crypto Rally of 2020 Over?<\/h2>\n

At the time of this writing, $250 is holding strong, and Ethereum<\/a> has already rebounded, but additional downside cannot be ruled out.<\/span><\/p>\n

After over 60 days of uptrend and 100% gains, a retracement isn\u2019t out of the question, although some crypto analysts are claiming that it make take weeks or months to occur.<\/span><\/p>\n

Many indicators confirm that at a new crypto bull market is here, however, that doesn\u2019t mean massive crashes still can\u2019t cut rallies down to size at every turn.<\/span><\/p>\n

Related Reading | Crypto Market Crash: This Technical Structure Puts End to Uptrend<\/a><\/strong><\/em><\/p>\n

This latest turn for Ethereum could result in new lows being set, or if a bull market is in effect, dips will be bought with fury and speed, and in no time at all, Ethereum<\/a> will be back to setting new locals highs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The number two cryptocurrency by market cap, Ethereum, just experienced a massive dump alongside many other major crypto assets, including Bitcoin and the rest of its altcoin brethren. Is the 2020 crypto rally finally finished, or is this just another opportunity to buy the dip across the crypto market before further upside in the days ahead. Ethereum Drops to $250 in Crypto Market Mayhem Ethereum just lost as much as 10% of its value in a matter of just one hour, as the smart-contract focused altcoin\u2019s rally may finally be finished. The cryptocurrency has been rallying since the start of 2020 and had been up to over 100% at recent highs since the year first began. Related Reading | Tezos & Ethereum: These Top Performing Altcoins Flash Dangerous Sell Signals But the number two cryptocurrency by market cap has struggling to set a new high, and after this latest collapse that wiped out 10% from the value of Ethereum, it\u2019s starting to look like the crypto bull market is taking a quick break. In a matter of an hour, Ethereum fell from highs around $286 to as low as $250, before finding support. The current local high of the entire rally is set at $290, failing to reach its 2019 high of $364. Resistance from $285 all the way up to $300 may have proven to be too powerful for bulls to break through. Bearish crypto traders may have the high volume, top-like reversal they were looking for, however, the drop failed has thus far failed to set a lower low on daily timeframes. On Sunday, Ethereum dropped to $236 before rebounding back toward local highs. But the rally has thus far failed to hold and was rejected back down to find support. Is the Crypto Rally of 2020 Over? At the time of this writing, $250 is holding strong, and Ethereum has already rebounded, but additional downside cannot be ruled out. After over 60 days of uptrend and 100% gains, a retracement isn\u2019t out of the question, although some crypto analysts are claiming that it make take weeks or months to occur. Many indicators confirm that at a new crypto bull market is here, however, that doesn\u2019t mean massive crashes still can\u2019t cut rallies down to size at every turn. Related Reading | Crypto Market Crash: This Technical Structure Puts End to Uptrend This latest turn for Ethereum could result in new lows being set, or if a bull market is in effect, dips will be bought with fury and speed, and in no time at all, Ethereum will be back to setting new locals highs.<\/p>\n","protected":false},"author":517,"featured_media":415280,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[142,428,6664,1946],"class_list":["post-415279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-altcoins","tag-bitcoin","tag-crypto","tag-ethereum"],"acf":[],"yoast_head":"\nEthereum Nosedives to $250 in Massive Crypto Market Dump<\/title>\n<meta name=\"description\" content=\"The number two cryptocurrency by 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Nosedives to $250 in Massive Crypto Market Dump","url":"http:\/\/wncen.com\/news\/ethereum-nosedives-to-250-in-massive-crypto-market-dump\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-nosedives-to-250-in-massive-crypto-market-dump\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-altcoin-crypto-shutterstock_752757304.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-altcoin-crypto-shutterstock_752757304.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bitcoin","crypto","ethereum"],"dateCreated":"2020-02-19T22:26:43Z","datePublished":"2020-02-19T22:26:43Z","dateModified":"2020-02-19T22:49:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Nosedives to $250 in Massive Crypto Market Dump\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-nosedives-to-250-in-massive-crypto-market-dump\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-nosedives-to-250-in-massive-crypto-market-dump\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/ethereum-altcoin-crypto-shutterstock_752757304.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/ethereum-altcoin-crypto-shutterstock_752757304.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bitcoin\",\"crypto\",\"ethereum\"],\"dateCreated\":\"2020-02-19T22:26:43Z\",\"datePublished\":\"2020-02-19T22:26:43Z\",\"dateModified\":\"2020-02-19T22:49:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-altcoin-crypto-shutterstock_752757304.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/415279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=415279"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/415279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/415280"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=415279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=415279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=415279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}