Bitcoin continued to weaken on Friday, June 26, trading near $59,800 after briefly falling to a fresh yearly low around $58,115. BTC is now down more than 7% for the week, keeping short term sentiment firmly bearish.
BTC remains below its key moving averages, including the 50 day EMA at $67,863, the 100 day EMA at $71,246, and the 200 day EMA at $77,115. This confirms that sellers remain in control, while any recovery attempt may face strong resistance.
The Relative Strength Index is hovering near 30, suggesting that Bitcoin is close to oversold territory. However, the MACD continues to weaken, indicating that recovery momentum remains limited.
If BTC attempts a rebound, the first major resistance area sits near $64,004. A stronger recovery would need to clear the 50 day EMA near $67,863, followed by the 100 day EMA at $71,246 and the 200 day EMA near $77,115. Until then, the broader trend remains under pressure.
On the downside, the next important support level is around $55,000. If selling pressure continues, this area could become the next key zone where buyers attempt to defend the market.
Ethereum Breaks Below Key Support
Ethereum also extended its decline on Friday, trading near $1,532 after slipping below important support levels. ETH is now down more than 9% this week, increasing the risk of a deeper correction.
The price remains below its 50 day, 100 day, and 200 day EMAs, which are positioned between roughly $1,865 and $2,320. This confirms that Ethereum continues to face heavy overhead resistance.
ETH has also moved away from the $2,000 level, which now acts as a major resistance zone. The RSI has dropped to around 28, placing Ethereum in oversold territory. Meanwhile, the MACD remains slightly negative, showing that bearish momentum is still present, although the pace of selling may be slowing.
If ETH rebounds, the first key resistance is near $2,000. After that, traders may watch the 50 day EMA around $1,864, the 100 day EMA near $2,036, and the 200 day EMA at $2,317.
On the downside, the current price area around $1,532 remains an important short term reference point. A deeper decline could bring Ethereum toward the next major support near $1,385, where buyers may attempt to slow the fall.
XRP Faces Further Downside Risk
XRP remains under bearish pressure, trading near $1.012 on Friday and losing more than 8% so far this week. The token is still trading below its key moving averages, with the 50 day, 100 day, and 200 day EMAs positioned between roughly $1.220 and $1.540.
XRP also continues to move inside a descending parallel channel, showing that sellers still control the short term trend. The RSI sits near 28, signaling oversold conditions, while the MACD histogram remains negative. This suggests that bearish momentum is still active, although the token may be approaching a stretched downside zone.
