Crypto Giants Bitcoin, Ethereum, and XRP Face Make-or-Break Tests at Key Support Levels

Bitcoin hovered around $60,000 on Friday after three consecutive days of losses. The bearish pressure weighed heavily on the prospects of a rebound despite potential bullish RSI divergences. The technical outlook was heavily bearish for Bitcoin as a downside continuation could offset any rebound potential.

The Moving Average Convergence Divergence (MACD) flattened near its signal line, hinting at waning but still fragile momentum in Bitcoin. However, the Relative Strength Index (RSI) hovered just above the oversold threshold near 30, suggesting lingering downside pressure. The RSI was higher than during the previous dip to $60,000, signaling a bullish divergence and supporting the possibility of a double-bottom reversal.

Ethereum traded above $1,500 on Friday, extending its losses for the fourth consecutive day. The major altcoin showed a clear bearish bias, with price well below both the 50-day EMA at $1,865 and the 200-day EMA at $2,325. The RSI reflected an oversold condition but the higher reading compared to the June 6 low of 12 suggested a possible hidden bullish divergence.

Ripple traded around $1.03 on Friday, maintaining a steady decline after the 50-day EMA capped its recovery around $1.28 on June 15. The reversal in XRP extended toward the $1.00 psychological support, which formed a Fair Value Gap (FVG) between $0.92 and $1.00.