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Market Highlights: Bitcoin and Ethereum struggling as UNI, MATIC, and NEAR rally

December 23, 2021 By Charles Thuo

The crypto market has been quite volatile in the last two weeks and most cryptocurrencies have been struggling to remain green.

Bitcoin for, example, is struggling to clear the $49,500 and move above $50,000. It has given $50K several shots in the last two weeks but only to be pulled back below $49K.

Ethereum on the other hand is also struggling to get above $4,000. It is currently struggling between $3,700 and $3,900.

Bitcoin price levels to watch

Currently, Bitcoin (BTC) is trading at $49,138.41 as it tries again to get past the resistance level at $49,500, a level that has proven to be quite hard to break out above.

The last time it tried to get past the resistance level, it went crashing past the support levels at $49,000, $48,000, and $47,500.

Ethereum price levels to watch

Currently, Ethereum is trading at $3,994.48; $6 shy from the first resistance level at $4,000 and just about $74 above the support level at $3,920.

If it succeeds to get above the $4,000, it could try to break past the minor resistance at $4,080 before embarking on a long-term bull trend. However, if it falls below the $4,000 level, it could side again towards $3,700.

Altcoins

Most major altcoins have also been struggling to gain momentum.

XRP, for example, is testing the $1 barrier.

But contrary to the general crypto outlook, several altcoins have unleashed monster Bull Runs. Terra (LUNA) for example has been on a race to set new all-time highs every day.

Others like UNI, MATIC, and NEAR are rallying after minor pullbacks. Uniswap (UNI), for example, is trading at $17.71 today after registering a 13.71% rise. Polygon (MATIC) has also been rising in the last seven days registering a 21.17% rise in 7 days.

NEAR Protocol (NEAR) is another altcoin that has been on the rise especially this week. It has gained 14.06% in the last 24 hours and about 33% in the last seven days.

Other altcoins that have made significant upsurges today include Dogelon Mars (ELON), Gala (GALA), Livepeer (LPT), The Sandbox (SAND), Fantom (FTM), Oasis Network (ROSE), and Aave (AAVE).