Best Cryptocurrencies to Buy Today, January 16 – ETH, LINK, BNB

Highlights:

• ETH has moved up past its recent support at $3,050, and buyers are showing more confidence after the recent dip.
• LINK is showing early strength after the pullback, and momentum is slowly shifting back to the upside.
• BNB is set to rally after the recent token burns and strong network activity, which support long-term confidence.

The crypto market is in a bearish mood today after heavy profit-taking by investors. The recent regulatory delays on the CLARITY Act from the Senate have cooled the market, with investors waiting for further clarification. In addition, the total crypto derivatives open interest fell 5.2% in the past day, and BTC dominance hit its 6-month high. Meanwhile, the altcoin index has dropped to 25%. Investors are shifting back to safe assets like BTC.

As of press time, the overall market cap is down 0.79% to $3.24 trillion. In addition, the trading volume is down 18.75% to $119.68 billion. The fear and greed index stands in the neutral zone at an index of 50. According to CoinGlass data, $243.18 million was liquidated in the market in the past 24 hours, with long positions leading. With the crypto market cooling off, here are the best cryptocurrencies to buy today.

Best Cryptocurrencies to Buy Today

1. Ethereum (ETH)

ETH is trading at $3,313, representing a 0.58% decrease on the daily chart. The market cap stands at $399.95 billion, while the trading volume has decreased by 18.42% to $25.47 billion. Despite the small dip, ETH is up 7.2% on the weekly chart and 13% on the monthly chart.

The Ethereum price is stabilizing after a sharp decline and is now trading inside a well-defined reaction zone. The price is holding above the $3,050 to $3,150 demand area. This zone has absorbed multiple sales attempts. Meanwhile, buyers have defended this level with higher intraday lows.

The next upside area sits near $3,380 to $3,450. This region previously acted as support and is now limiting recovery attempts. Above that zone, the price is facing heavy resistance near $3,800 to $3,900. A clean break above $3,700 would shift the structure bullish. However, a failure at $3,150 could reopen downside risk toward $2,900.

2. Chainlink (LINK)

LINK is currently trading at $13.78, with a 0.83% decrease in the last 24 hours. The trading volume of the coin is down by 14.21% to $503.2 million, while the market cap stands at $9.75 billion.

Chainlink price has entered a consolidation phase after a strong rebound from long-term lows. The price has remained above the $12.7 support zone, which continues to act as a structural pivot. This level has held through multiple pullbacks. However, upside momentum has slowed near the $15.7 resistance, where price has repeatedly stalled.

A decisive move above this level could allow continuation toward $17.5 and later $22. On the downside, a loss of the $12.70 price range would weaken the structure and expose lower demand. Momentum indicators are neutral for now, suggesting the price is preparing for a directional move rather than trending immediately.

3. BNB

BNB is trading at $935.25, representing a 0.55% decrease over the last 24 hours, and the market cap stands at $127.53 billion. Meanwhile, the trading volume is down by 2.82% to $2.14 billion.

Despite a brief pullback today, BNB is showing strong long-term upside potential. BNB Chain has completed its 34th quarterly token burn, removing 1.37 million BNB from circulation. As a result, the total supply has dropped to 136.36 million tokens. This ongoing reduction directly strengthens scarcity. Moreover, the burn mechanism remains automatic and tied to network activity. Therefore, supply continues to shrink regardless of short-term price moves.

The latest burn reinforces confidence in BNB’s deflationary model. Historically, these events have supported price stability over time. Consequently, reduced supply combined with steady demand positions BNB for higher levels later this year.