[Digital Today reporter Yoonseo Lee] Solana has entered a trend-reversal zone on a shift to net outflows from exchanges and an 11 percent rebound.

On May 7 (local time), blockchain media outlet BeInCrypto reported that Solana was trading around $90, showing a move that partially reverses selling pressure seen in recent weeks.

The key to the move is that a price rebound and a recovery in spot demand appeared at the same time. On the daily chart, an inverse head-and-shoulders pattern has been forming since late March. After the right shoulder formed in late April, it rebounded about 11 percent from the bottom. The market is watching whether it can break back above a resistance level that serves as the pattern’s neckline.

Technical indicators are also supporting the rebound attempt. The 20-day exponential moving average (EMA) is increasing the likelihood of a bullish crossover with the 50-day line. Still, short-term moving averages remain below the 100-day line, making it difficult to say the uptrend is fully confirmed. Whether it can reclaim $93.91, where the 100-day line sits, was presented as the next turning point.

Supply-and-demand indicators show a recent shift in sentiment. In Glassnode data, the net exchange position change has turned back to buyers’ advantage. From April 22 to May 1, exchange inflows were strong, and on some days about 1.4 million SOL flowed into exchanges.

That flow soon reversed. Through May 6, SOL moved off exchanges for 5 consecutive trading days, and the most recent daily net outflow was tallied at 543,961 SOL. Such a trend typically suggests buyers are absorbing supply faster than sellers.

Still, there is clear overhead supply. Glassnode’s cost-basis distribution heatmap shows about 5.41 million SOL clustered in a narrow band just above the current price. The $91.70 to $92.43 range was cited as the first major supply wall. Holders near breakeven in that range are more likely to take profits or sell to break even.

If market participants absorb that supply, the next resistance levels are the 100-day line at $93.91 and then the pattern neckline at $96.95. If it breaks above that area decisively, the inverse head-and-shoulders pattern would be completed. In that case, the target price is $111, implying upside potential of 14.45 percent.

If it fails to hold $90.03, the chances of testing lower supports rise. In that case, $86.69 and $84.63 are mentioned first. If $81.29, the low of the right shoulder, breaks, the current reversal pattern itself could weaken.

Ultimately, the short-term direction depends on whether the supply-demand improvement confirmed by net exchange outflows is strong enough to clear the overhead supply zone. Solana is currently battling around the $90.03 area. It would need to clear the $91 area supply zone, the 100-day line and the $96.95 neckline in sequence for a further upside scenario toward $111 to open.