Technical analysis by SupertradeOfficial about Symbol DOT: Buy recommendation (4/29/2025)

The DOTUSDT pair on the weekly timeframe is showing a strong pattern of historical buying interest around the $3.565 support zone. This level has been tested four times since October 16, 2023, and each time it has acted as a critical point for bullish reversals, forming triangular pricing channels.Key ObservationsRepeated Support Test at $3.565DOT has tested the $3.565 support level approximately four times:October 16, 2023November 4, 2024April 7, 2025Most recent touch in late April 2025, briefly dipping below to trigger buy orders.Triangular Pricing ChannelsEach bullish reversal from this level formed a triangular pattern:Channel 1: Formed between Oct 2023 – March 2024Channel 2: Nov 2024 – Feb 2025Projected Channel 3: Currently forming; expected to play out similarlyResistance ZoneA strong resistance level at $11.705, which capped gains in both previous triangle patterns.This level aligns with the projected peak for the next bullish leg.Bullish Momentum BuildingThe recent price action has again bounced from the critical support zone, signaling a likely bullish continuation.The market may attempt to complete a third triangular cycle towards the $11.70 resistance zone.Trade Setup (Based on Chart Projection)Entry Point: Around $4.326, close to the current price and above support confirmation.Stop Loss: Set just below support, at $3.293, accounting for potential fakeouts or liquidity grabs.Take Profit: Targeting the upper resistance at $11.705, matching historical triangle peaks.Risk/Reward AnalysisPotential Gain: ~+140.57% (from $4.326 to $11.705)Potential Loss: ~-23.88% (from $4.326 to $3.293)Risk/Reward Ratio: Approximately 1:6, indicating a high reward relative to risk, suitable for swing traders.ConclusionThe weekly chart of DOTUSDT shows a strong historical pattern where the $3.565 level has consistently acted as a springboard for bullish reversals. With a clear triangular pricing structure repeating over time, a potential third bullish wave is now unfolding. A long position near current levels offers an attractive setup with well-defined risk management and a compelling reward potential toward the $11.70 resistance.