$HBAR | Allocation | Market Exec |
2024-08-13

Technical Confluences:
- Price action has bounced off a Support trendline and is in the range of a Demand Zone
- Price action is also close to an all-time low 

Fundamental Confluences:
- HBAR is a Layer 1 blockchain which has potential for further adoption
- Recently in April, there was a big spike in  CRYPTOCAP:HBAR  price after an announcement that blockchain firms Archax and Ownera tokenized BlackRock's ICS UST Funds on Hedera
- Blackrock came out and clear the air that they are not involved with Hedera; the 2 firms were the ones who were involved in tokenizing it
- Although it is not a direct involvement by BlackRock, it gave HBAR Foundation alot of attention (potential moving forward)

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With the above fundamentals, I will allocate my first tranche of HBAR allocation for my Long-Term portfolio. I may trade on this pair with a tight SL level if it breaks below the Red Line shown.

Likely to hold onto this pair at least till it reaches the 161% Fibo Extension Supply Zone.

Remember, DYOR.
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.