Bitcoin is moving back toward the $60,000 level, a price zone that the source describes as one of the market’s most important near-term tests. The broader structure remains weak, with lower highs and lower lows still in place, and BTC trading below its short- and medium-term moving averages. Recent rebound attempts have faded quickly, showing that sellers still hold the upper hand at current levels.
The $60,000 area has acted as both support and a consolidation zone in previous cycles, which is why it is being watched as a major battleground between buyers and sellers. The article says another retest looks increasingly likely, and even a brief move below that threshold cannot be ruled out. At the same time, a drop into this zone would not automatically confirm a deeper breakdown, since strong psychological levels have historically attracted fresh demand during periods of heavy bearish sentiment.
RSI Moves Closer to Oversold While Bottom Remains Unclear
The Relative Strength Index, or RSI, is also approaching oversold territory. In the source material, the indicator is described as a gauge of price speed and strength, with readings below 30 generally viewed as oversold and above 70 seen as overbought. Even so, the setup does not yet offer a convincing sign that a durable bottom has formed. The downtrend structure is still intact.
XRP Slides Toward $1 After Breaking Multi-Month Support
XRP is showing a similar pattern of weakness. After losing a multi-month support area at the start of June, the token has been retreating toward the $1 zone under renewed selling pressure. The article identifies this level as one of the most important psychological thresholds in recent XRP trading.
Technically, XRP broke lower from a descending triangle that had formed over several months. The loss of support near $1.30 led to fresh local lows and reinforced the broader bearish trend. XRP is now trading below its 20-day, 50-day, 100-day, and 200-day moving averages, a sign that sellers remain in control across both short- and long-term timeframes. If the market falls through $1, the report says technical pressure could intensify and volatility could rise. At the same time, a lower RSI reading may indicate that near-term selling exhaustion is starting to appear, which could allow for a short rebound if buyers defend support.
SHIB Stays in Downtrend but Selling Pressure Starts to Ease
Shiba Inu remains in a broader downtrend and is still trading near yearly lows, below key resistance levels. Even so, the source points to early signs that the selling wave is losing strength. One of the main signals is a positive RSI divergence: price has been making new local lows, while the indicator has not been confirming those lows to the same extent. That pattern often suggests that downside momentum is weakening.
The article also highlights a narrowing descending wedge that developed through June, which supports the view that bearish momentum has slowed. Still, SHIB remains below its 20-day, 50-day, 100-day, and 200-day moving averages, so the larger trend has not changed. The gap between price and short-term averages has narrowed, hinting at a possible transition phase, but no reversal is confirmed until buyers reclaim major resistance levels.