Why TON, EIGEN, and HYPE Are the Altcoins to Watch Amid Market Tension – June 18 Analysis
As geopolitical tensions escalate between Israel and Iran, investors across global markets are showing renewed risk aversion. The ripple effect has reached crypto, slowing overall trading activity and pushing many traders to the sidelines. But despite the broader pullback, a handful of altcoins—Toncoin (TON), EigenLayer’s EIGEN, and Hyperliquid’s HYPE—are managing to capture market attention.
Here’s a look at what’s driving interest in these tokens today, June 18, and where they might be headed next.
Toncoin (TON): Sellers Gain Momentum as Demand Softens
Toncoin, the token tied to the Telegram-affiliated TON blockchain, is trading at $2.87, down 2% over the past 24 hours. While the dip is modest, technical indicators suggest weakness under the surface.
The Balance of Power (BoP), which measures the tug-of-war between buyers and sellers during trading sessions, currently stands at -0.59—a clear signal that selling pressure is outweighing demand. A BoP in negative territory often points to bearish sentiment taking hold, increasing the risk of further downside.
If this trend continues, TON could slide toward the $2.77 support level. However, if buyer momentum rebounds, the token may attempt a climb back toward $3.04, a key short-term resistance area.
EigenLayer (EIGEN): Rising Volume, Falling Price
EigenLayer’s native token EIGEN is also under pressure today, trading at $1.14, down about 1%. Notably, this price drop is occurring despite a 6% increase in trading volume, which has reached $128 million.
That pattern—higher volume paired with declining price—often indicates panic selling or widespread liquidations, as market participants rush to reduce exposure. Unless demand steps in to stabilize the decline, EIGEN could slide further, potentially hitting support around $1.02.
If sentiment reverses and buy-side interest picks up, EIGEN may stage a recovery toward $1.56, a level that would mark a significant shift in momentum.
Hyperliquid (HYPE): Eyeing a Return to All-Time Highs
The HYPE token, which powers the Hyperliquid decentralized perpetual exchange, is currently priced at $39.50, reflecting a 2% daily dip. While modest, this drop places HYPE just below a key resistance level at $42.65—a threshold that has repeatedly blocked upward movement.
Despite the pullback, HYPE remains one of the stronger altcoins structurally. With support holding at $36.55, and bullish interest still simmering, HYPE could be well-positioned to retest its all-time high of $45.82—provided broader market sentiment stabilizes.
However, a failure to overcome the $42 resistance could invite another correction and consolidation near recent lows.