💥 Here is Why AVAX & LINK Prices Could Bounce Soon

This week, the crypto market witnessed a selling pressure, which tumbled the Bitcoin price from $64500 to $58090, registering a 10% loss. The bearish shift triggered a correction trend across major altcoins, raising concerns of a prolonged downtrend into September.

🔸 #AVAX and #LINK Price Hints Reversal on Retail Listing Approval in HK

Hong Kong-based HashKey Exchange recently announced the listing approval of AVAX (Avalanche) and LINK (Chainlink) for retail investors. This move signifies the expansion of the web3 landscape in HK, which previously restricted retail trading to Bitcoin (BTC) and Ethereum (ETH).

Livio Weng, CEO of HashKey Exchange, noted, “ There may be many reasons for this acceleration, but the main catalyst may have been particularly when Trump expressed his intention to have Web3 happen in the United States.” in an interview with the South China Morning Post (SCMP).

Furthermore, this crypto exchange has revealed that it had submitted the third phase of the application for approval of tokens for retail traders. Amid this report, the AVAX and LINK prices managed to hold above key support levels of $24 and $11, respectively.

🔸 AVAX Price Analysis Signals Recovery to Target $30

On August 22nd, the AVAX price gave a decisive breakout from the resistance trendline of a falling wedge pattern. This pattern, characterized by two converging trendlines, signaled a steady correction trend for the past five months.

The post-breakout jump pushed the asset price to $28 high before reverting back to $24.5. With an intraday gain of 1.6%, the Avalanche price prediction shows sustainability above the 20-day EMA and the downsloping trendline of the wedge pattern as flipping support. If the pullback sustains, the AVAX price could rally to $1.33, marking a 34.4% potential gain, followed by an extended rally to $41.8.LINK Price Analysis Eyes 17% Jump Before Major Breakout.