Why These Altcoins Are Trending Today — June 18

Investor caution is mounting as geopolitical tensions between Israel and Iran continue to escalate, triggering uncertainty across global markets.

This has led to a noticeable drop in trading activity in the crypto space, with market participants turning risk-averse. Despite the pullback, a few altcoins have managed to grab traders’ attention today. Some of them include TON, LAMBO, and HYPE. 

Toncoin (TON)

Telegram-linked TON is one of today’s trending assets. It trades at $2.87 at press time, down 2% over the past day. 

On the daily chart, its negative Balance of Power (BoP) signals waning demand for the altcoin. The momentum indicator currently stands at -0.59 and is in a decline.

The BOP indicator measures the strength of buyers versus sellers by comparing the price action within a trading session. When BOP is negative, it suggests that sellers are dominating the market, indicating bearish sentiment and downward price pressure. 

If sellers strengthen their control, they could drive a further price dip to $2.77.

TON Price Analysis. Source: TradingView

On the other hand, if demand climbs, TON could reverse its downtrend and climb toward $3.04.

Eigenlayer (EIGEN)

EIGEN is another altcoin trending today. Mirroring the broader market’s dip of the past day, the token is also down 1%. At press time, EIGEN trades at $1.14.

During the review period, the token’s trading volume is up 6%, totaling $128 million.  When an asset’s price falls while trading volume rises, it signals heightened selling pressure or panic-driven exits, as more participants rush to offload their positions. 

This combination reinforces the bearish trend in the EIGEN spot markets and points to further downside unless demand reappears to absorb the sell-off.

If selling pressure climbs, the token’s price could dip toward $1.02.

EIGEN Price Analysis. Source: TradingView

Conversely, if buying resumes, EIGEN could rally to $1.56.

Hyperliquid (HYPE)

HYPE, the native token of the emerging decentralized perpetual exchange Hyperliquid, is another altcoin that has attracted attention today. It trades at $39.50, down 2% over the past day.

At its current price, HYPE remains below the key resistance level at $42.65, which prevents a full recovery toward its all-time high of $45.82.

If broader market sentiment improves, the altcoin could retest this previous peak, and potentially break past it. 

HYPE Price Analysis. Source: TradingView

However, if selling pressure persists, HYPE may retreat toward the $36.55 support zone.