Best Cryptocurrencies to Buy Today, May 23 – Bitcoin, Cardano, Chainlink
Highlights:
- Bitcoin holds strong above $110,000 as open interest and ETF inflows point to sustained institutional support.
- Cardano forms a bullish cup and handle pattern withthe potential for a major breakout above $1.176.
- Chainlink nears a key breakout zone as it trades within a symmetrical triangle showing bullish potential.
The ongoing bull run has reignited investor spirit in the market as most of the coins continue to rally. At press time, the global market cap is at $3.52 trillion, a 0.47% increase in the past day. Meanwhile, the total trading volume is down 24.19% to $146.82 billion. The fear and greed index remains in the greed zone at an index of 76.
Most of the top 10 coins have gained in the past day after the top cryptocurrency rallied above $111,000 and set a new ATH. Analysts have tied the recent rally to institutional adoption and the race to establish clear regulations for the industry. With legislation such as the GENIUS Act advancing at a fast pace, here are the best cryptocurrencies to buy today.
Best Cryptocurrencies to Buy Today
1. Bitcoin (BTC)
The top cryptocurrency has lost 0.08% in the past day and is trading at $110,814 after setting a new high of $111,944 yesterday. In addition, the trading volume has reduced by 32.28% to $61.11 billion, while the market cap stands at $2.2 trillion. Despite the small correction, bulls are still in control, and analysts at Crypto2Community predict that the recent rally will drive the coin to $150,000 in the short term.
Meanwhile, the futures open interest of the coin has also hit a record level on derivatives exchanges. The open interest reached over $93 billion as of press time, according to data from CoinGlass. The figure represents a 30% increase since the start of this month.
In addition to the increasing open interest, spot Bitcoin ETFs continued with their seven-day streak of net inflows with $935 million in funds. The continued streak of inflows indicates the return of institutions in the market, which could keep driving the price higher.
On May 22 (ET), spot Bitcoin ETFs saw a total net inflow of $935 million, marking seven consecutive days of net inflows. Spot Ethereum ETFs recorded a total net inflow of $111 million, with five consecutive days of net inflows.https://t.co/ueXcZjub6m
— Wu Blockchain (@WuBlockchain) May 23, 2025
2. Cardano (ADA)
The native token of the Cardano blockchain is trading at around $0.8125, with a 3.30% increase in the past day. Its trading volume has decreased by 3.39% to $1.17 billion, while the market cap stands at $28.7 billion. In addition, the coin has gained 3.67% and 16.40% on the weekly and monthly charts, respectively.
According to a recent analysis by CryPtoELITES, Cardano is showing a bullish cup-and-handle pattern, which points to a strong breakout potential. The neckline resistance sits at $1.176, marked by the 0.618 Fibonacci level. A successful breakout above this zone could trigger a large rally.
Cardano 12X coming soon!
A project that stays true to its cycle.
Tg : https://t.co/EeTzlicwoM$ADA #ADA #Cardano $Crypto pic.twitter.com/dEbL2Mrosi
— @CryptoELlTES (@CryptooELITES) March 22, 2025
Cardano already broke out of a long-term downtrend line. This confirms a major shift in market structure. Volume also shows growth during recent bullish moves, signaling rising interest in ADA. The pattern suggests a potential 12x price surge from the current price if momentum holds.
3. Chainlink (LINK)
LINK is currently trading at $16.78, with a 2.84% increase in the past day. Its trading volume has decreased by 16.75% to $622.38 million, while the market cap stands at $11.02 billion. The coin has gained 15.15% in the past month.
Despite the drop in the trading volume, a crypto analyst has predicted a bullish outlook for the coin on the daily chart. According to his analysis, LINK is forming a symmetrical triangle pattern. This pattern suggests a potential breakout as the price is moving between converging trendlines. The upper resistance zone sits around $18 to $19, which marks a key level for bulls to hit.
Chainlink is approaching a critical support level on the daily chart, nearing the Ichimoku
If $LINK breaks above the trendline, expect potential moves towards targets at $13.00, $15.20, $16.40, and $19.00🎯👇Crypto Traders-join Telegram👇 https://t.co/4ApYM0VIA5
. pic.twitter.com/QD4zGYbo8G— Whales_Crypto_Trading 🐋 (@WHALES_CRYPTOzz) May 23, 2025
The support zone lies near $9.50 to $10. Volume has remained stable but low, which often happens before a breakout. A breakout above the triangle could lead to a rally toward $15.59. If momentum builds, the price may hit the resistance zone. However, a drop below support may target $8.09.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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