SafeMoon (SFM) Selling Pressure Threatens Previous Gains | Airdrop Alert Pro

In the broader market, Safemoon’s price has risen by 25% over the past week volatility. The rise in token demand has fueled this double-digit price increase after the project migrated from the BNB chain to the BNB chain. Solana.

However, profit-making and increased sales pressure are threatening to remove some of SFM’s recent earnings. This analysis provides details.

Safemoon battles are growing sell-offs

SFM/USD One-Day Chart Evaluation Highlights Growing sales SFM spot market pressure. A notable indicator of this trend is the negative power balance (BOP) of the token, which is -0.96 at press time.

Asset BOP indicator compares the advantages of buyers and sellers By analyzing price movements over a given period. When its value is negative like this, it indicates that the seller has more control, which means greater downward pressure and the asset may experience a bearish trend.

This shows that the bullish momentum of SFM holders has weakened and suggests whether selling pressure continues to decline.

Additionally, SFM’s price has dropped 8% in the past 24 hours, causing Altcoin to approach trading at its 20-day exponential moving average (EMA).

This moving average measures the average price of assets over the past 20 trading days, making the most recent price larger to identify Short-term trend.

Like SFM, it marks an increase in sales pressure when the asset’s price is expected to be interrupted below the 20-day EMA. This is a sign of weakening bullish momentum and a shift toward a bearish trend.

SFM finds key support for $0.000061

Safemoon’s 20-day EMA ($0.000061) successfully violated dynamic support, which would enhance the bearish trend. In this case, the price of Altcoin may Further decline to $0.000047.

However, a surge in new demand will invalidate this bearish outlook. If the site flows into the rally, it may drive Price of SFM Above the resistor at a price of $0.000068 The multi-year high is $0.000011.