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Best Altcoins to Buy Today, August 19 – Sei, Chainlink, Ethereum

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Highlights:

  • SEI, Chainlink, and Ethereum stand out among the best altcoins to buy today despite market weakness.
  • Chainlink shows a bullish wedge pattern with price targets between $33 and $38 if momentum holds.
  • Ethereum ETF inflows surge past Bitcoin, signaling stronger institutional demand for yield and utility-driven assets.

The crypto market continues its downturn as the overall market capitalization declines to $3.87 trillion. The downturn follows Bitcoin’s drop below the $115k mark and major altcoins displaying losses. However, the trading volume has surged to $175 billion, indicating increased market activity. Amidst this bearish sentiment, let’s discuss the best altcoins to buy today, such as SEI, Chainlin,k and Ethereum.

Best Altcoins to Buy Today

1. SEI

SEI has declined by over 3% over the past 24 hours to trade at $0.3140. Bearish momentum has been mounting on SEI’s market recently as it has dropped by 11% on the monthly chart. The altcoin currently has support at the $0.26 mark, while resistance has been noted at the $0.37 mark. Its market cap and trading volume stand at $1.88 billion and $228 million, respectively.

Source: CoinMarketCap

SEI is consolidating in a symmetrical triangle, trading around $0.33. Analyst Ali Martinez points to a possible buy-the-dip area at $0.31. The chart indicates there may be a breakout next, with a target of $0.44. Fibonacci levels indicate that significant resistance is found at 0.35 and 0.3,9, and support is found at 0.30, guiding the short-term structure.

In addition, Sei Network is attracting attention as it revealed Monaco, a trading layer that focuses on institutional infrastructure. The project aims to advance market positioning with a huge scale of trading not found in traditional DeFi platforms. Meanwhile, CBOE’s filing of the Canary Staked SEI ETF with the SEC sparks discussion. The anticipated breakout and imminent institutional adoption position SEI among the best altcoins to buy today.

2. Chainlink (LINK)

At the time of writing, Chainlink is trading at a price of $24.22 with a gain of 1.60% over the last 24 hours. There has been a decline in trading volumes in LINK, currently sitting around $3.34 billion, thus showing a decline of 4%. The price of LINK has been rather stable over the last week, with a 27% rise during the week.

Source: CoinMarketCap

Crypt analyst Solberg Invest notes a downward falling wedge taking shape on the Chainlink price structure. This structure joins the low highs and high lows, indicating the decreasing volatility. Such a structure is usually a sign of a trend change towards a breakout. The gradual increase above the green support line indicates improving market sentiment.

The analyst is now expecting a possible breakout of the upper trendline. The analyst suggests that prices may move into the $33 to $38 territory in case the breakout takes place. Under this setup, LINK is worthy of a mention in terms of the best altcoins to buy today as technical conditions strengthen.

3. Ethereum (ETH)

The largest altcoin by market cap, Ethereum, is displaying a bearish outlook after the recent impressive rally. Ethereum is up by 15% over the past month as it inched closer to its all-time high. As of this writing, the altcoin is exchanging hands at $4,242, with a decline of 0.70% over the past 24 hours. In addition, its market cap and trading volume have dropped to $511 billion and $45 million, respectively.

Source: CoinMarketCap

The founder of Moonrock Capital says that Ethereum ETF flows are accelerating, whereas Bitcoin ETF inflows are visibly stagnating. The data shows that Ethereum attracted 3.33B in 4 weeks and that of Bitcoin was only 0.15B. That figure highlights the rapid growth of Ethereum, particularly considering its smaller overall market capitalization.

The trend indicates that institutions are increasingly less concerned with narratives and are more interested in fundamentals, yield, and utility. He believes that Ethereum might dominate the market in this cycle and perhaps beyond. As Bitcoin’s dominance seems to diminish, Ethereum stands its ground as one of the best altcoins to buy today due to growing institutional trust and increased adoption.

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