Hyperliquid (HYPE) ATH Run Needs Short Pause, Ethereum (ETH) Receives Massive Upside Room, Toncoin (TON) Golden Cross Might Not Help: Crypto Market Review

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ethereum is back to declining Toncoin's golden cross isn't useful Advertisement Although Hyperliquid has emerged as one of the cryptocurrency market's best-performing assets, its incredible surge may finally be approaching the point where a brief cooling-off is required. HYPE has entered a phase where momentum is still overwhelmingly bullish after rising to a new all-time high near $76, but a number of technical indicators indicate the asset may be overheating. This raises the likelihood of a brief correction or consolidation period prior to the next leg higher, even though it does not necessarily indicate the end of the uptrend. The graph illustrates how remarkable HYPE's progress has been. The token has continuously produced higher highs and higher lows since March, all the while staying comfortably above all significant moving averages. The strength of the underlying trend is reflected in the textbook bullish alignment of the 50-, 100-, and 200-day moving averages. HOT Stories Hyperliquid (HYPE) ATH Run Needs Short Pause, Ethereum (ETH) Receives Massive Upside Room, Toncoin (TON) Golden Cross Might Not Help: Crypto Market Review Does Crypto Make You Age Faster? Bryan Johnson Wants to Find Out HYPE/USDT Chart by TradingView But as of right now, prices have drastically deviated from those means. HYPE is trading above $72 , and the 50-day moving average is close to $57. Due to traders locking in gains and late buyers being reluctant to pursue prices at high levels, such a wide gap frequently fosters profit-taking. Advertisement Momentum indicators support this theory. HYPE is now firmly in overbought territory, as the Relative Strength Index has risen above 76. In the past, readings above 70 have been indicative of very aggressive buying. Strong assets can stay overbought for long stretches of time, but these conditions usually precede, rather than immediately follow, periods of consolidation. You Might Also Like Tue, 06/02/2026 - 11:58 Shiba Inu (SHIB) on Verge of Crossing 390 Billion Threshold in Exchange Inflows: Bears Take Control By Arman Shirinyan Crucially, no overt indications of a significant trend reversal are present. Moving averages are still rising, volume is still strong, and buyers have consistently intervened during each decline in the rally. This implies that any correction would probably be seen as a healthy reset rather than the start of a more significant decline. Advertisement Bulls would benefit most from HYPE consolidating between $65 and $75 while momentum indicators cool. Stronger support levels and a more stable base for future gains would result from such a pause. Ethereum is back to declining On the surface, Ethereum's recent decline may seem concerning, but the most recent technical setup indicates that the asset may be generating significant upside potential for a future recovery. ETH is entering extremely oversold territory after losing multiple important support levels and falling below $2,000. At the same time, it is moving farther away from significant resistance zones that have limited price action for months. HYPE/USDT Chart by TradingView The weakness of Ethereum is currently the focus of the market. The asset has broken free from a declining consolidation pattern that emerged in April and May, indicating short-term bearish momentum. The 200-day moving average is still well above current levels at about $2,500, but the price has also dropped below the 50-day and 100-day moving averages. But this deterioration is also presenting an intriguing opportunity. Ethereum is in oversold territory, as the Relative Strength Index has plummeted toward 29. In the past, ETH has hardly ever stayed below the 30 RSI threshold for prolonged periods of time without at least a significant relief rally. When selling pressure wears off and market players start to see lower prices as appealing entry points, such circumstances frequently arise. You Might Also Like Tue, 06/02/2026 - 13:28 Bitcoin Bottom Nears as 40% of Supply Enters Loss By Caroline Amosun More significantly, Ethereum's potential upside range is growing due to the current decline. Given that ETH is currently trading close to $1,975, a return to the 50-day moving average at $2,110 would be a significant improvement. A challenge to the 200-day moving average could result in gains of more than 25 percent from current levels, while regaining the 100-day moving average around $2,230 would offer even more upside. Additionally, volume trends imply that panic selling has not escalated. Ethereum's decline seems to be more orderly than the abrupt capitulation events that occurred during earlier bear market periods. This frequently means that big market players are reducing their exposure rather than completely leaving the market. Bulls still need to demonstrate that there is support in the $1,900–$2,000 range, as the current trend is still bearish. However, from a risk-reward standpoint, Ethereum is starting to move into a region where upside potential keeps growing while downside momentum slows. Toncoin's golden cross isn't useful Toncoin is painting a golden cross , which many traders view as one of the most bullish signals in technical analysis. The 200-day moving average, which is typically linked to the start of long-term uptrends, has recently been surpassed by the 50-day moving average. In a typical situation, this would greatly bolster the bullish argument for TON. This time, though, might be different. The issue is that an already explosive rally preceded the appearance of the golden cross. Before the signal was fully confirmed, TON made gains of over 100%, rising from about $1.30 to nearly $2.90 in just a few weeks. A golden cross frequently becomes more of a lagging indicator than a predictive one when it appears after a significant move has already taken place. You Might Also Like Tue, 06/02/2026 - 13:30 Cardano Lands Major Olympic Partnership in Brazil, What's Next? By Tomiwabold Olajide That risk is exactly what the chart depicts. TON experienced significant profit-taking right after the vertical breakout in early May. Since then, a significant amount of the asset's gains have been retraced, and it is still extremely volatile, with significant daily swings becoming the norm. The price action is losing credibility, even though the moving average structure is still bullish. Selling pressure has been applied to TON's recent attempts to recover after it has repeatedly failed to establish a clear trend above the $2.00 area. The asset is presently trading close to a crucial region where the 50-day and 100-day moving averages support intersects. A fascinating tale is also told by volume. The first breakout, not the later attempts at recovery, was accompanied by the biggest volume spikes. This implies that the rally phase may have been the peak of enthusiasm, leaving fewer buyers to drive prices sharply higher in the near future. A cautious approach is further supported by momentum indicators. After cooling from overbought levels, the RSI is currently close to neutral territory at 55. This eliminates the immediate danger of an overheated market, but it also shows that the breakout's powerful upward momentum has faded. TON is not going into a bear market as a result. The golden cross continues to indicate better long-term conditions, and the overall trend is still positive. Investors may be let down, though, if they were counting on the signal alone to trigger another spectacular rally. #Toncoin #Ethereum #Hyperliquid