Why are these altcoins the trend on June 18?

Investor caution is increasing as geopolitical tensions between Israel and Iran continue to escalate, causing a wave of instability in global markets. This has led to a significant decline in trading activity in the crypto market as investors shift to a risk-averse stance. Despite the market correction, some altcoins are still attracting the attention of traders today, including: TON, LAMB, and HYPE.

Toncoin (TON)

Toncoin (TON) – the project associated with Telegram – is one of the standout assets today. At the time of writing, TON is trading at $2.85, falling 5.5% in the past 24 hours.

On the daily chart, the Balance of Power indicator (BoP) is negative, indicating that demand for this altcoin is weakening. The momentum indicator is currently at -0.59 and continues to fall.

BoP is an indicator that measures the strength of buyers compared to sellers by analyzing price action in each trading session. When BoP is in the negative zone, it indicates that sellers are dominant, reflecting a bearish sentiment and downward price pressure.

If the bears consolidate their position, the price of TON may continue to fall deeper to the level of 2.77 dollars.

TON price chart | Source: TradingViewOn the other hand, if demand increases, TON may reverse the fall trend and rise back to the $3.04 range.

Eigenlayer (EIGEN)

Eigenlayer (EIGEN) is another altcoin that is attracting attention today. Reflecting the general market fall over the past 24 hours, this token has also decreased by 5.7%, currently trading at $1.12 at the time of writing.

During the same period, the trading volume of EIGEN also increased by 6%, reaching a total of 128 million dollars. A decrease in asset prices while trading volume increases usually indicates heightened selling pressure or panic sell-offs, as many investors rush to exit their positions.

This combination further reinforces the downtrend in the spot market of EIGEN and indicates that prices are likely to continue falling unless buying demand returns strong enough to absorb the selling pressure.

If selling pressure continues to increase, the token price may fall to the range of $1.02.

EIGEN Price Chart | Source: TradingViewConversely, if buyers return, EIGEN could rise to $1.56.

Hyperliquid (HYPE)

HYPE, the native token of the emerging decentralized derivatives exchange Hyperliquid, is another altcoin attracting attention today. Currently, HYPE is trading at $37.9, falling 5% in the past 24 hours.

At the current price level, HYPE is still below the important resistance level at $42.65, hindering the full recovery to the historical peak of $45.82.

If the broader market sentiment improves, this altcoin could retest its previous peak, or even break through and surpass that level.

HYPE price chart | Source: TradingViewHowever, if selling pressure continues, HYPE may fall to the support area of $36.55.

Đình Đình