SafeMoon has been on fire, with a staggering 25% surge in price within a week despite the market's ups and downs. What's behind this meteoric rise? It all started with the shift from BNB Chain to Solana, sparking a wave of demand for the token.

But hold on tight, as the bulls might be in for a bumpy ride ahead. Profit-taking and mounting selling pressure are threatening to wipe out some of SafeMoon's recent gains, painting a somewhat bearish picture for the future.

A closer look at the SFM/USD one-day chart reveals a growing selling pressure, with the Balance of Power (BoP) indicator deep in the negative territory at -0.96. This signals that sellers are gaining the upper hand, potentially leading to a downward spiral in the token's price.

The recent 8% dip in SFM's price has brought it dangerously close to its 20-day exponential moving average (EMA), a key indicator of short-term trends. A breach below this level could spell more trouble ahead, pushing the price lower towards $0.000047.

But all hope is not lost. A surge in demand could flip the script, propelling SafeMoon above the resistance at $0.000068 and aiming for new highs at $0.000011. The battle between bulls and bears rages on, and the outcome remains uncertain. Stay tuned for the next chapter in SafeMoon's wild ride to the moon!