Technical analysis by MangoMan4 about Symbol DOT: Buy recommendation (3/21/2025)

📍 Timeframe: 1D (Bybit Exchange)📈 Current Price: $4.550 (+3.43%)Key Technical Insights:Descending Channel Breakout:DOT had been trading in a descending channel since late 2024.A successful breakout from the channel indicates a trend reversal.Strong Support Retest & Bounce:The price found support at the $4.00 region (marked in yellow).Multiple tests of this level suggest strong demand and potential accumulation.Major Resistance & Upside Target:The next key resistance zone is around $10.00 (marked as "Target").If momentum continues, a move towards $12.00–$14.00 is possible.Possible Price Path:The projected price movement (black line) suggests a retest of support before a rally.If price holds above $4.20–$4.30, further bullish continuation is expected.Trading Strategy:Bullish Entry: Consider long positions on a retest of $4.20–$4.30 with a stop below $4.00.Breakout Confirmation: A daily close above $5.00 strengthens the case for an upward push.Profit Targets: $7.00, then $10.00, and extended targets at $12.00–$14.00.