Technical analysis by YokubjonUmedovich about Symbol DOT: Buy recommendation (1/3/2025)

DOT DOTUSDT.P DOTUSDT DOTUSDT ### **1. Fibonacci Analysis**Levels Identified**: 0% (high)**: **11.889** (recent high point).- **0.236**: **9.928**. - **0.5**: **7.735** (current price zone).- **0.618**: **6.754**.- **0.65**: **6.488** (golden pocket).- **0.786**: **5.358**. - **1 (low)**: **3.580** (recent low point).Current Price Action**: The price is sitting near the **0.5 Fibonacci level (7.735)**, a commonly used support/resistance level. The annotation suggests this is a buying opportunity due to the convergence of technical factors.---### **2. Key Support and Resistance Zones**Support Zones**:- **6.754–6.488**: The golden pocket is a high-probability reversal zone. 5.358: Corresponds to the **0.786 Fibonacci level**, adding further support. - **3.580**: Major historical low and 100% retracement.Resistance Zones**:9.928: **0.236 Fibonacci level**, acting as the first key resistance. 11.889: Recent swing high and ultimate target.---### **3. Buying Opportunity**The annotation on the chart identifies the **0.5 Fibonacci level (7.735)** as an optimal buying zone. The reasoning is likely due to:Confluence with the support zone.Fibonacci retracement aligning with the trend.---### **4. Potential Price Scenarios**Bullish Scenario**:If the price holds above **7.735** and confirms support, it could target **9.928** (0.236 Fibonacci level). A breakout above **9.928** opens the path to the recent high of **11.889**.Bearish Scenario**: A breakdown below **6.754–6.488** (golden pocket) could send the price toward **5.358** or lower.---### **5. Strategy**- **Entry**: Enter around the **7.735** level.- **Stop-Loss**: - Below **6.488** (below the golden pocket).- **Targets**: Target 1: **9.928**.Target 2: **11.889**.---### **6. Indicators to Confirm Trade**RSI: Check if it shows oversold conditions near the current level.Volume: Increasing volume near **7.735** confirms buying interest.MACD: Look for bullish crossovers to confirm momentum.