Uniswap Price Analysis — December 20

UNI continues to struggle with lasting bearish pressure as the cryptocurrency falls below the $15.00 mark, following a failed rebound from the $13.75 base. At press time, the twentieth-largest cryptocurrency is under a renewed bearish influence, as it barrels down towards $13.75 again. That said, a retest of this multi-month low in the near term could make or break the cryptocurrency as the new year draws near. As illustrated in the daily chart, a successful defense of the $13.75 base could ignite the long-awaited market rebound and push prices towards the $21.00s. However, failure to prevent bears from going below the critical support could fan the bearish flames and push prices to the $10.00 low.

Meanwhile, my resistance levels are $15.00, $16.00, and $16.75, and my support levels are $13.75, $13.00, and $12.00.

Total Market Capitalization: $2.14 trillion

Uniswap Market Capitalization: $8.95 billion

Uniswap Dominance: 0.41%

Market Rank: #20