[DigitalToday Kyung-min Hong (홍경민), intern reporter] XRP has been pushed to just above the $1 level, further raising market tension over whether key support will break. Across major altcoins, a continuing downtrend structure and early rebound attempts are being observed at the same time.

On June 11 (local time), blockchain media outlet U.Today reported that XRP is trading around $1.12 after breaking below the $1.30 support level and then further breaking down to the lower boundary of a descending triangle pattern that had held for months. This move represents a complete break below a key horizontal support level that held from March to May. The price is holding below short-, medium- and long-term moving averages, and a clearly bearish trend continues structurally.

Technical indicators are also confirming additional weakness amid this change in price structure. The daily relative strength index (RSI) has fallen below 30 into oversold territory, but this is interpreted as a typical technical overheating seen during a downtrend rather than a short-term rebound signal. In particular, the $1 area is acting not just as a price level but as a psychological and technical turning point in the current market. If it breaks, volatility could increase as stop-loss orders and position adjustments occur at the same time.

If the $1 level holds, there is also room for a rebound in the form of a technical retracement, with a relief rally potentially extending to the $1.25 to $1.30 range. Still, the current chart structure shows no clear support below $1. The $0.90 to $1.00 area, where buying was concentrated in the past, is being cited as the next meaningful support zone. With both upside and downside constrained, the price appears to have entered a short-term decision zone.

Ethereum is still in a downtrend, but some early signs of easing selling pressure are emerging. After plunging from the $2,300 range to $1,500, Ethereum briefly fell below that area before buying quickly returned and stabilised the price around $1,600. This is interpreted as some demand returning after a short-term capitulation zone formed.

In the recent rebound zone, trading volume reached the highest level in months, suggesting liquidations and panic selling may have concentrated across the market. Structurally, however, the downtrend of lower highs and lower lows remains in place, and the price is below the 50-day, 100-day and 200-day moving averages. Those moving averages are clustered in the $1,900 and $2,400 areas and are acting as strong overhead resistance. A downtrend line in place since May has also not been broken. As a result, the current move is interpreted as a technical retracement within a downtrend rather than a rebound.

Cardano (ADA) is showing more structural weakness, plunging to $0.16 as a key support zone of $0.20 to $0.22 broke down. The medium-term price structure has been significantly damaged, and it is trading while maintaining a downward slope below all major moving averages.

At the same time, the RSI has fallen to around 22 into extreme oversold territory, but this is interpreted as a technical feature that repeatedly appears during capitulation rather than a signal that guarantees an immediate rebound. Trading volume surged during the recent plunge, and it is presumed that panic selling and position liquidations occurred at the same time. This points more to a phase of expanding volatility than to the formation of a short-term bottom. Considering this supply-demand and momentum structure, the first resistance is at $0.21. Above that, major moving averages in the $0.24 to $0.25 range are acting as heavy supply, likely limiting upside even if a rebound occurs.

As these individual technical moves align at the same time, the market is in a mixed state in which key support tests and continued downtrends are playing out across major altcoins, alongside expectations for short-term rebounds after entering oversold territory. The overall structure, however, is closer to a process of rechecking direction around support and resistance levels than to a trend reversal. For the time being, the market is likely to remain in a decision zone amid increased volatility.