What is the small circle near Verizon at top of iPhone?

My phone keeps calling contacts, playing music, trying to FaceTime with contacts, is often unresponsive to home button...Verizon store rep checked it out and said it was 4G "bouncing" they had been doing, and many customers had similar problems.  But he said my phone was fine....now it is not again!  What is the deal?  Both he and I did soft resets, plus I did a hard reset before I even took it in...didn't help.  I also left it powered off for a long time to see if that would do the trick...clearly, it didn't!

The small circle means you are on the slower 1XRTT network. You may be somewhere where you are getting a poor 3G/4G LTE signal, your SIM card my be bad, you may have a hardware issue.
It's hard to understand your description of what troubleshooting took place as there is no such thing as a "hard" or "soft" reset on an iOS device, only a reset (press and hold the Home and power buttons until the silver apple appears) or a restore (wipe the phone back to factory settings). "Bouncing" is not exactly what we'd call a technical term so I've no idea what the rep was trying to say. And no, this is not a particularly common problem with Verizon iPhones. Make an appointment at the Genius Bar at your local Apple Store and have them take a look at it.

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