SOL Chart Note — Oct 6: Pullwave Reads the 1H Pullback

SOL perpetual futures are trading in a tight band this morning, holding above the week's low while funding stays near flat. Below is a plain-language read of what Pullwave's CYH Pullback Strategy indicator is showing on the SOL chart right now, along with the levels worth watching.

Market snapshot

SOLUSDT.P last traded at $120.77, down 0.85% over the past 24 hours. The 24-hour range spans from a low of $118.81 to a high of $122.04, while the broader 7-day range runs from $116.25 to $123.77. Funding sits near zero at 0.00046%, and open interest is 8,298,537 SOL (about $1,002M), down 3.84% over the past 24 hours.

What the Pullwave indicator shows

Pullwave's CYH Pullback Strategy runs a 1H trend filter underneath its 15m execution logic. The 1H trend filter is a volatility-based trailing line plotted on the 1-hour chart; as long as price stays above that line, the filter reads as trending up, and if a 1H candle closes below it, the filter would flip to down. As of this morning, that filter reads UP, with the 1H trend line sitting at $115.28.

On the position side, the indicator has been in a long state since Oct 2, 01:00 UTC, and the current 1H structure is described as a pullback phase inside the uptrend — price pulling back toward the trend line without closing beneath it.

Two mechanics worth understanding if you're watching the chart: an add-on entry is a second (or later) entry the indicator may mark when price pulls back inside an existing uptrend and the add-on conditions table lines up, effectively a note that conditions matched the rule set again. A partial exit is a marked reduction the indicator shows when a move extends further than its trigger level, without implying the position is fully closed. Both are chart markings produced by fixed price-and-volume rules — the indicator does not place orders, and any decision about what to do with that information rests with the person looking at the chart.

Key levels on the chart

• $123.77 — 7-day high
• $122.04 — 24h high
• $118.81 — 24h low
• $116.25 — 7-day low
• $115.28 — Indicator 1H trend line

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What to watch next

A few conditional observations based strictly on the levels above, with no forecast implied:

• If a 1H candle closes below $115.28, the indicator's 1H trend filter would flip from up to down, which would change the backdrop the current long state is operating under.
• If price pushes back up toward $122.04 or beyond it toward $123.77, that would mean price is retesting the upper part of this week's range rather than continuing the current pullback.
• If price instead slips toward $118.81 or further down to $116.25, that would mean the pullback is extending deeper into this week's range, bringing price closer to the $115.28 trend line.
• With funding near zero and open interest down 3.84% over the past day, the current move looks more like a range adjustment than a heavily leveraged push in either direction — worth keeping in mind alongside whatever the 1H trend line does next.

None of the above is a signal to act on; it's simply how the current price sits relative to the levels already on the chart. Anyone following along can watch how price behaves around $115.28, $118.81, $122.04 and $123.77 to see which of these conditions plays out first.