HashKey Hong Kong's compliance exchange has secured approval to offer Avalanche and Chainlink for trading by retail investors.
HashKey’s inclusion of AVAX and LINK signified a notable expansion in the region’s crypto trading options, giving retail investors access to these high-potential tokens.Focusing on Avalanche, AMBCrypto found that AVAX/USDT pair initially consolidated around the $27 price level, forming a head and shoulders pattern before dropping to $23.Following the news of AVAX’s approval for trading in Hong Kong, the price bottomed at $23, created a double bottom, and broke through a short-term high.
However, the uptrend is yet to be confirmed, as a successful retest of this double bottom pattern is needed, particularly during the Asian trading sessions in the coming months. This could lead to higher prices for AVAX.LINK also experienced significant price movements due to the HashKey Hong Kong news. After breaking out of a 14-day consolidation, LINK surged but faced resistance at the $12 level.
Avalanche’s AVAX/USDT pair recorded 21.49K trades, while Chainlink’s LINK/USDT saw 17.54K trades, indicating strong liquidity and increased investor interest.Finally, the Open Interest for both AVAX and LINK rose following the HashKey approval, with AVAX outperforming LINK in this area.As these assets gain traction in Hong Kong and beyond, their prices could trend higher, presenting promising prospects for investors.
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