Best Cryptocurrencies to Buy Today, August 1 – Ethereum, Hyperliquid, Chainlink

Highlights:

• Ethereum is holding a bullish structure despite the drop and could target $4,867 if it reclaims the $4,100 level.
• HYPE is testing a key support at $39.19 and may bounce toward $52.33 if buyers regain momentum.
• LINK is facing strong resistance at $19.51, and support at $15.70 may decide its next major move.

The crypto market is down today as macroeconomic factors kick in. A fresh new round of tariffs set to kick in on August 7 has driven the market down. As of press time, the overall market cap is down 3.74% to $3.75 trillion. However, the trading volume is up 5.30% to $182.23 billion. The fear and greed index stands in the neutral zone at an index of 57.

According to CoinGlass data, over $649.64 million was liquidated in the market in the past day. Most of the top 10 cryptocurrencies are trading in the red zone on the daily chart. As the new tariffs kick in, here are the best cryptocurrencies to buy today.

Best Cryptocurrencies to Buy Today

1. Ethereum (ETH)

The second-largest cryptocurrency is trading at $3,638, representing a 5.86% decrease on the daily chart. The market cap stands at $439.22 billion, and the trading volume has increased by 5.48% to $38.36 billion. ETH has gained 0.62% on the weekly chart and 48.59% on the monthly chart.

Ethereum has formed a clear cup-and-handle pattern and already broke above the neckline at $3,743. This breakout triggered upward momentum, which pushed the price above the key $4,100 resistance level. Although the price has recently retraced, the overall trend still supports a bullish continuation.

$ETHUSD $ETH Ethereum – Symmetrical Moves

Price Targets: $4109, $4867, $5790

Ethereum continues to consolidate and is in a symmetrical pattern moving higher.

Next target is $4109 to challenge highs from December, then $4867 to challenge all-time highs.

Golden Ratio Target is… pic.twitter.com/QgQjLY6Wba

— Donald Dean (@donaldjdean) August 1, 2025

Major support now lies near $3,400 and $2,855, which coincide with visible volume shelf zones. These levels are likely to attract buyers on any pullback. The trendline from July remains intact and continues to support the current move. If Ethereum regains strength above $4,100, it could target the next resistance at $4,867. However, if sellers maintain pressure, ETH may retest the $3,400 demand area before making a new move.

2. Hyperliquid (HYPE)

HYPE is currently trading at around $39.66, with a 9.36% decrease in the past day. Its trading volume has increased by 27.1% to $542.73 million, while the market cap stands at $13.24 billion.

HYPE has recently touched the $39.19 support zone and reacted positively. This level marks a strong demand area from late June. If buyers defend this support, the price could bounce back toward the $52.33 resistance. The recent pullback followed a strong rally in July that pushed the price to the $50 range. This move shows that bulls still control the broader trend.

However, if $39.19 fails to hold, the next key support sits at $27.31. The price has also formed higher lows since April, which confirms an uptrend structure. A clean break above $44 may trigger bullish continuation.

3. Chainlink (LINK)

LINK is currently trading at $16.48, with a 9.14% decrease in the last 24 hours. The trading volume of the coin has increased by 41.91% to $890.5 million, while the market cap stands at $11.17 billion. The coin is up 25.83% on the monthly chart.

Chainlink is trading near $16.73 after facing rejection below the $19.51 resistance zone. The price remains capped under this key level. A strong breakout above $19.51 could push it toward the major resistance at $52.99.

$19.51 remains the most important line on the chart for $LINK. Tough nut to crack, but this is the month.

My left-curve expectations of price action over the next five years are shown here by the continuation of higher highs and higher lows. pic.twitter.com/a6KTJWSoha

— Perpetual Trading (@PerpTrading) August 1, 2025

However, the market has shown repeated rejections near $36 and $52 in past cycles. Support remains firm around $15.70, which has held for several months. If this level breaks, the price could fall toward $5.10. A break of either $19.51 or $15.70 will likely set the next direction.