Technical Analysis

Ethereum’s selloff in June pushed ETH below $1,800, with price reaching as low as $1,536 in the past 24 hours and marking its lowest level so far in 2026. The drop has also dragged the monthly RSI to its weakest reading since Ethereum began trading in 2015, a zone that previously appeared near major cycle lows in 2020 and 2022. ETH was trading at $1,612 at the time of writing, while spot Ethereum ETFs saw $19 million of net inflows on June 4 before flipping to $5.97 million of net outflows the following day.

XRP stayed weak as Bitcoin slipped below the $70,000 level during Tuesday's risk-off session, extending pressure across major tokens. Analysts pointed to exchange-flow spikes, a rare monthly RSI "deep reset" zone, and an accumulation band around $1.10–$1.30, with some discussing upside targets up to $15. At last check, XRP traded at $1.12, up 3.70% over the past 24 hours.

An on-chain analyst argued in a June 6 post on X that Bitcoin is unlikely to bottom at $25,000 in the current cycle, citing the Bitcoin Electrical Cost model. The model places BTC’s estimated production cost around $48,694, which the analyst said could translate into support near $50,000 if the downturn persists. Separately, a CryptoQuant Quicktake noted bearish signals like RSI (14) near 6.4 and an EMA50/200 “Death Cross,” while Binance netflows at -0.58σ suggested ongoing exchange outflows.

Bitcoin's recent slide toward the $60,000-$62,000 range has pushed 10.46 million BTC into unrealized loss, with underwater supply exceeding coins in profit for the first time this cycle. The MVRV Ratio has fallen to 1.1, while long-term holders have reportedly shifted back to net accumulation, absorbing about 30,000-35,000 BTC over 30 days. The setup resembles prior cycle-bottom conditions, but a durable recovery still depends on sustained demand.

BUILDon (B) rose 15% over the past day as broader market sentiment improved, bringing price back toward the $0.25 resistance that has repeatedly halted rallies. Momentum gauges strengthened during the move, with MFI rising from 36 to 47 and BBP posting a fourth straight green bar. Analysts note that a break above $0.25 could leave room toward $0.27, while heavier liquidation pressure is clustered closer to $0.28.

On June 7, 2026 at 19:25, Ethereum revisited the $1,600 area for a third time since 2023, dipping to a weekly low of $1,505 before rebounding to $1,631. The week opened at $2,004 and topped at $2,018, but still showed an 18.58% weekly drop alongside a 4.5% intraday gain at the time of writing. Analysts highlighted a TD Sequential 9-count near ~$1,612, exchange reserves at 14.6M ETH, and a weekly volume spike to 1.65M ETH as key signals clustered around the same zone.

Strategy executive chairman Michael Saylor posted "A good time to add more dots" on X after the firm's rare 32 BTC sale, reigniting talk that the company could return to buying during a pullback. Strategy still reports 843,706 BTC valued near $52.2 billion and says it sold 32 BTC for $2.5 million between May 26 and May 31 to support preferred stock distributions. Investors are also tracking MSTR around $120.44 and BTC near $62,000 as debate builds over financing, dividends, and the next disclosure.

Trader Bob Loukas said on June 7, 2026 that XRP looks deeply oversold in the 2022–2026 cycle and may be "due a bounce," but he still sees a possible additional 50% downside before year-end. XRP has posted steep 2026 monthly losses so far, including -10.6% in January, -16.2% in February and -15.7% in the first week of June, while price was around $1.12 at the time referenced.

Bitcoin finished the week ending June 5, 2026 down nearly 20%, marking its steepest weekly percentage fall since the FTX collapse in November 2022. After failing to reclaim levels above $82,000, BTC slid toward the $59,130 low area and later traded around $62,150, with analysts watching whether conditions resemble a late-cycle washout.

Bitcoin traded at $61,822 on June 7, 2026 at 8:35 a.m. EDT, after defending the $59,100 low while short-term momentum indicators sank into oversold territory. The setup shows RSI-14 at 24 and mixed oscillator readings, but 13 of 15 moving averages remain in sell alignment, leaving $63,000–$64,000 as the key area needed to challenge the broader daily downtrend.