Technical analysis by SerenityEquity about Symbol DOT: Buy recommendation (9/29/2024)

DOT is forming a potential long-term bottom around 4.8 USDT, with a clear horizontal support level. It has been consolidating for several months, indicating a possible accumulation phase.A significant Take Profit (TP1) target is identified at 10 USDT, with a longer-term price target at 19 USDT, representing a 391% upside from current levels.The entry point is near the support at 4.8 USDT, providing an excellent risk-to-reward ratio for long-term traders.Keep an eye on the price action around the support zone, and look for confirmation of a breakout toward TP1.Trade Idea:Long entry near 4.8 USDT.TP1 at 10 USDT.Final TP at 42 USDT.Monitor support at 4.8 USDT for potential further downside protection.