The article discusses how Uniswap's attempt to break past the $12.3 resistance level has failed, leading to a fresh decline in price. The inability to sustain gains above this level has raised concerns about a potential deeper retracement. The article highlights the shift in market sentiment, with bearish pressure outweighing bullish momentum. Factors such as market uncertainty and Uniswap trading below the 100-day SMA indicate significant bearish pressure. To regain strength, buyers need to reclaim momentum and establish strong support. Key support levels to watch are $10.3 and $8.7, with potential deeper declines if these levels are breached.



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