Best Cryptocurrencies to Invest in Today, August 7 – Cardano, Chainlink, Monero

Highlights:

• Cardano is leading the altcoin recovery, with buyers defending the $0.20 area and targeting $0.21 next.
• Chainlink is holding above $8.20, while a break above $8.50 could strengthen its recovery toward $9.88.
• Monero remains in a rising channel, with $370 as the key level before buyers can target $390 and $420.

The crypto market is down today, primarily driven by the uncertainty surrounding the CLARITY Act. The Senate postponed the vote to September, a move that has cooled expectations in the market. Most of the top ten cryptocurrencies are trading in the red zone on the daily chart. Meanwhile, the market direction hinges on institutional buying to keep the bullish momentum going forward.

As of press time, the overall market cap is down 0.99% to $2.19 trillion, with the trading volume down 13.86% to $49.41 billion. The fear and greed index is stuck in the fear zone at an index of 33. Meanwhile, the total liquidations in the past day come in at $149.12 million, according to CoinGlass data. With the market looking for direction after the CLARITY Act stalling, here are the best cryptocurrencies to invest in today.

Best Cryptocurrencies to Invest in Today

1. Cardano (ADA)

ADA is leading the altcoin rally, currently trading at $0.2030, with a 7.78% increase in the last 24 hours. The trading volume of the coin is up by 95.59% to $811.3 million, while the market cap stands at $7.41 billion.

Cardano has reclaimed the key demand zone after a strong recovery from the June lows. Buyers have pushed the price back above $0.2 and turned attention to the next resistance. The $0.200 to $0.21 range now acts as the most important area. Buyers need to hold this zone to keep the recovery alive.

$ADA 2 Resistance Levels pic.twitter.com/soPfMd0CKg

— Faisal (@wavesofcryptos) August 7, 2026

A strong breakout above $0.21 could open the door to $0.23, a level that marks the next major resistance from the previous breakdown. However, a move back below $0.2 would weaken the recovery and give sellers another opportunity to regain control.

2. Chainlink (LINK)

LINK is currently trading at $8.18, with a 0.03% decrease in the last 24 hours. The trading volume of the coin is up 21.16% to $198.6 million, while the market cap stands at $6.12 billion.

Chainlink has recovered steadily after defending the $7.18 support zone during the recent market pullback. Buyers have kept the price above that level and slowly regained momentum. The $8.20 area now acts as the first support during any pullback.

Meanwhile, $8.50 remains the first resistance after several recent rejections. A daily close above $8.5 could strengthen the recovery and bring $9.88 into focus, a level that marks the next major resistance from the previous rally. Buyers need to clear $9.88 before Chainlink can attempt a stronger move toward higher levels.

3. Monero (XMR)

XMR, the native coin of the privacy blockchain Monero, is trading at $370.64, representing a 1.25% increase over the past 24 hours. The market cap stands at $6.96 billion, while the trading volume has decreased by 6.61% to $83.65 million.

Monero has built a steady recovery inside a rising channel after rebounding from the June lows. Every pullback has found support along the lower trendline, showing that buyers remain active. The $370 level now acts as the first resistance after repeated rejection attempts.

Buyers need a strong daily close above that level to extend the rally. The next target sits near $390 at the upper boundary of the channel. A breakout above $390 could clear the path toward $420. However, a daily close below $340 would break the channel structure and shift momentum back in favor of sellers.