#BTCPullback

Solana Bull Returns to Dominate the Market After Weeks of Selling, Targeting 14% Breakout
Solana Price
SOLUSD
currently moves around US$90, with daily charts showing a common pattern, as buyers shift SOL flow on exchanges into a net outflow for five consecutive sessions.
This formation connects an 11% rebound, an emerging reversal pattern, and the latest change in spot demand. Whether SOL can turn this into a 14% breakout depends on the presence of a large supply cluster just above the current price.
Price Forms Reversal Pattern on 11% Rebound
On the daily chart, Solana has been forming an inverse head-and-shoulders pattern since late March. The right shoulder was formed at the end of April. SOL has already rallied about 11% from that low, now approaching the neckline that could trigger a breakout.
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The series of moving averages provides additional context. The exponential moving average
E
EMA
20-day, a trend indicator that emphasizes recent price movements, is now approaching the 50-day EMA and could produce a bullish crossover.
These two short-term EMAs are still below the 100-day EMA, which is still limiting the rally from above. If a bullish cross is confirmed, it will be the first momentum signal. Additionally, the price potentially rising back above the 100-day EMA at around US$93.91 serves as a second momentum reference.
However, whether this pattern continues or not still depends on net flow data supporting buying activity.
Buyers Withdraw SOL from Exchange as Supply Clusters Appear
Data from Glassnode shows that exchange net position changes have reversed to a buying trend. This metric tracks SOL entering and leaving exchanges. From April 22 to May 1, there was a large inflow, with nearly 1.4 million SOL entering the exchange on one day.
But that trend has reversed. Over five consecutive sessions until May 6, SOL was withdrawn from exchanges. On the last day, a net outflow of 543,961 SOL occurred. This shift indicates buyers may be absorbing supply faster than sellers are putting their assets on the market.
The second on-chain layer also confirms this analysis. The distribution heatmap of cost basis from Glassnode maps the price ranges where holders acquired their coins. Data shows about 5.41 million SOL concentrated in a narrow price range just above the current price.
This cluster has historically often acted as resistance. New breakeven holders usually sell when prices rise, especially if they entered at recent lows.
If these holders do not sell during price increases and continue holding their assets, the 14% breakout scenario could materialize. For now, the pattern, flows, and supply distribution all support this. The price ladder also indicates key positions for each pivot on the chart.
Solana Price Levels Critical for 14% Breakout
With the pattern, flow reversal, and supply cluster aligned, focus now shifts to the price ladder. The technical level drawn from the late right shoulder at US$81.29 shows that SOL is currently facing the 0.618 level at US$90.03.
If the price cleanly moves back above, the next target is US$92.41 (Fibonacci 0.786). This level overlaps with the 5.41 million SOL cost basis cluster between US$91.70 and US$92.43. This cluster becomes the primary supply wall.
Above that is the 100-day EMA at US$93.91, serving as the next moving average resistance. The neckline of the inverse head-and-shoulders pattern is at US$96.95. If it breaks through the neckline clearly, the pattern will be active. The measured move projection supports a 14.45% increase, bringing SOL to around US$111.00.
The downward price ladder is also very clear. If SOL fails to hold above US$90.03, it will retest US$86.69 (0.382) and US$84.63 (0.236). If the price drops to break below US$81.29, the right shoulder base, the entire Solana price pattern will weaken.
The current flow pattern and setup tend to point upward. The 5.41 million SOL supply cluster has not yet been tested, and the 100-day exponential moving average
E
EMA
remains above the rally. If the price manages to close above US$96.95, there is a 14% breakout chance toward US$111.00, but if it fails, the price could fall to the invalidation floor at US$81.29.