#BTCPullback

Solana Bull Returns to Dominate the Market After Weeks of Selling, Targeting a 14% Breakout
Solana Price
SOLUSD
currently moves around US$90, with daily charts showing a familiar base pattern, as buyers have shifted SOL outflows on exchanges into net outflows 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 Cluster Appears
Data from Glassnode shows that exchange net position changes have reversed to a buying trend. This metric tracks SOL inflows and outflows on exchanges. From April 22 to May 1, there was a significant inflow, with nearly 1.4 million SOL entering exchanges on one day.
But that trend has now 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 Over five consecutive sessions until May 6, SOL was withdrawn from exchanges.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 where key pivot points are on the chart.
Solana Price Levels That Determine the 14% Breakout
With the pattern, flow reversal, and supply cluster aligned, focus now shifts to the price ladder. The technical level drawn from the right shoulder low at US$81.29 shows that SOL is currently testing the 0.618 level at US$90.03.
If the price moves back above this level cleanly, 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, which serves 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 convincingly, 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 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 remains untested, and the exponential moving average
E
EMA
100-day is still 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.