SOL Chart Note, Oct 10: Pullwave Short State Under $116.63 Line

SOL is trading lower on the day as price sits inside last week's range. Below is a plain-language read of where the market stands and what the Pullwave CYH Pullback Strategy indicator is currently showing on the SOLUSDT.P chart.

Market snapshot

SOL's last price is $109.18, down -1.02% over the past 24 hours. The 24h high is $112.05 and the 24h low is $108.41. Over the past 7 days, SOL has ranged between a high of $122.27 and a low of $105.61. The latest funding rate on the perpetual contract is 0.0091%, and open interest stands at 8,484,178 SOL (about $926M), down -1.65% over the past 24 hours.

What the Pullwave indicator shows

Pullwave's CYH Pullback Strategy runs a 1H trend filter together with 15m execution. The 1H trend filter is a volatility-based trailing line plotted on the 1-hour chart; it flips direction only when price closes through it on the 1H timeframe, which keeps it from reacting to every small wick. Right now that filter reads DOWN, and the 1H trend line itself sits at $116.63. If a 1H candle were to close above $116.63, the indicator's trend filter would flip to UP.

On the 15m chart, the indicator looks for pullbacks that stay inside the active 1H trend. In this logic, an "add-on entry" is a signal the indicator may draw when price pulls back and then resumes in the direction of the existing position state, effectively building on the current state rather than starting a new one. A "partial exit" is a signal the indicator may draw when a move extends further, marking a point where part of the position state is reduced on the chart. Neither of these describes a recommendation to trade — they are simply labels for the states and signals the indicator has drawn historically.

As of this morning, the indicator's position state is SHORT, dating back to its most recent entry signal on Oct 8, 11:00 UTC (10/8, 20:00 KST), drawn near $114.36. No new entry or exit signal has been drawn since that one. The chart currently shows one continuous short state sitting underneath a declining 1H trend line.

Key levels on the chart

These are the reference levels visible on today's chart, from highest to lowest:

• $122.27 — 7-day high
• $116.63 — Indicator 1H trend line
• $112.05 — 24h high
• $108.41 — 24h low
• $105.61 — 7-day low

The 1H trend line is the level the indicator's own trend filter is built around; the other four levels come directly from recent price action over the past 24 hours and 7 days.

Solana ecosystem and official updates

The Solana network status page (status.solana.com) currently reports All Systems Operational. In official project updates this week:

Firedancer Mainnet Release v26.09.6 (2026-10-06): Firedancer released a mainnet-ready version, v26.09.6, improving validator behavior under degraded network conditions, reducing validator stalls, and fixing rare identity switch bugs. Firedancer (GitHub)

Solana Foundation Launches Solana DvP, an Atomic Settlement Program Built for Financial Institutions (2026-10-06): The Solana Foundation launched Solana DvP, an open-source atomic delivery-versus-payment settlement program for financial institutions, developed with input from J.P. Morgan. solana.com

Breakpoint 2026: A guide to getting oriented (Part 1) (2026-09-18): Breakpoint 2026, Solana's flagship annual conference, will be held in London on November 15-17 at Olympia Convention Centre, gathering over 7,000 attendees from 100+ countries. solana.com

What to watch next

A few conditional reference points, based only on the levels already on the chart:

• If a 1H candle closes above $116.63, the indicator's trend filter would flip from DOWN to UP, which is the main trigger to watch on the 1H timeframe.
• If price moves up toward the 24h high of $112.05, that level sits below the 1H trend line of $116.63, so it would not by itself change the trend filter's reading.
• If price moves down toward the 24h low of $108.41 or further toward the 7-day low of $105.61, both levels remain on the downside of the current range and below the 1H trend line.
• The 7-day high of $122.27 remains the upper boundary of the past week's range, well above the current 1H trend line of $116.63.

Watching how price behaves around $116.63 in particular will show whether the indicator's 1H trend filter continues to read DOWN or whether a close above that line shifts it to UP on the next 1-hour candle.