Why These Altcoins Are Trending Today — June 12

Over the past 24 hours, trading activity in the crypto market has plunged, with the total market cap dropping by more than $96 billion. This sharp decline reflects growing investor caution and a temporary lull in broader market participation.

Despite this pullback in activity, some altcoins, including SUI, TON, and VIRTUAL, have managed to attract investors’ attention. 

SUI

Layer-1 (L1) coin SUI is one of today’s trending altcoins. The token currently trades at $3.28, down 5% over the past 24 hours. 

On the daily chart, SUI’s negative Balance of Power (BoP) highlights the bearish pressure among coin holders. At press time, this momentum indicator stands at -0.88.

The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is positive, buying pressure exceeds selloffs, driving the asset’s price higher. 

On the other hand, when an asset’s BoP is negative, sellers are in control, applying more pressure than buyers and driving the price lower.

If this persists, SUI sellers could drive its price to $3.

SUI Price Analysis. Source: TradingView

However, if demand climbs, SUI could break above $3.31 and surge to $3.55.

Toncoin (TON)

Telegram-linked TON is another altcoin trending today, despite recording a 2% decline over the past 24 hours. At press time, TON trades at $3.18, reflecting the bearish pressure in the broader market.

TON recently broke below its 20-day Exponential Moving Average (EMA) on the daily chart. This breakdown suggests a shift in momentum as sellers begin to outweigh buyers, potentially signaling a continuation of downward consolidation unless bulls regain control.

If demand wanes further, TON’s price could fall to $2.99.

TON Price Analysis. Source: TradingView

On the other hand, if buying pressure gains strength, it could drive the token’s price to $3.39.

Virtuals Protocol (VIRTUAL)

VIRTUAL is down 1% in the past 24 hours. During that period, its daily trading volume has climbed 40% to reach $350 million, indicating a surge in selloffs.

When an asset’s price declines while trading volume rises sharply, it signals strong selling pressure. This combination points to bearish sentiment and hints at the potential for further VIRTUAL downside if no support level holds.

In this scenario, the token’s price could fall to $1.93.

VIRTUAL Price Analysis. Source: TradingView

Conversely, if demand climbs, VIRTUAL’s price could breach the resistance at $2.07 and climb toward $2.14.