SOL Chart Note: Pullwave Short State Holds Oct 11

SOL trades near $110.08 as Pullwave's 1H trend filter stays down and the indicator sits in a short state since Oct 8.

SOL perpetual futures are trading near $110.08 this morning, holding inside a range that has defined the past week. Pullwave's CYH Pullback Strategy indicator remains in a short state on the 30m/15m SOLUSDT.P chart, with its 1H trend filter still pointed down. Here is what the chart and the indicator are showing right now.

Market snapshot

SOLUSDT.P last traded at $110.08, up 0.81% over the past 24 hours. The 24h range ran from a low of $108.90 to a high of $110.75. Zooming out, the 7-day range spans a high of $122.27 and a low of $105.61. Funding sits at 0.0017%, and open interest is 8,492,377 SOL (about $935M), up 0.24% over the past 24 hours.

What the Pullwave indicator shows

Pullwave's CYH Pullback Strategy is built on fixed price-and-volume rules, not discretionary calls — it reads a 1H trend filter and executes logic on the 15m chart. The 1H trend filter is a volatility-based trailing line plotted on the 1H chart; it flips between an "up" and "down" read depending on where price closes relative to the line. As of this morning, that filter reads DOWN, and the 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.

Underneath that filter, the indicator is currently in a short state, with its latest event being a short entry near $114.36 recorded on Oct 8, 11:00 UTC. The 1H structure right now is described as a pullback phase inside the broader downtrend — meaning price has bounced somewhat against the prevailing direction without the trend filter itself flipping.

Two mechanics worth understanding on this indicator: an add-on entry is a second (or further) entry the indicator may place in the same direction after a pullback inside an existing trend, intended to build on a position already open in that state. A partial exit is the opposite — it closes part of an open position when a move extends, trimming exposure without closing the full position outright. The chart's add-on conditions table tracks whether those pullback or extension conditions are currently being met. None of this is a signal to act; it's simply what the rule-based logic on the chart currently displays.

Key levels on the chart

$122.27 — 7-day high
$116.63 — Indicator 1H trend line
$110.75 — 24h high
$108.90 — 24h low
$105.61 — 7-day low

These five levels frame the current structure: price is trading well below the 7-day high and the indicator's trend line, but still comfortably above the 7-day low, inside the tighter 24h band.

Solana ecosystem and official updates

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

Solana Foundation Launches Solana DvP, an Atomic Settlement Program Built for Financial Institutions (2026-10-06): Solana Foundation launched Solana DvP, an open-source delivery-versus-payment escrow program for financial institutions, enabling atomic settlement with finality in seconds instead of days. Source: 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 people from 100+ countries. Source: solana.com

Separately, status.solana.com currently reports all systems operational for the Solana network.

What to watch next

If a 1H candle closes above the indicator's trend line at $116.63, the trend filter would flip to UP, which would change the backdrop the indicator's short state is currently operating within. Until then, the 1H structure remains a pullback inside a downtrend according to the indicator's own read.

On the broader range, a move back toward the 24h high of $110.75 would put price closer to testing the indicator's trend line at $116.63, while a slip toward the 24h low of $108.90 would keep price nearer the 7-day low of $105.61. A reclaim of the 7-day high at $122.27 remains a distant marker on the upper end of the past week's range, while the 7-day low at $105.61 marks the lower boundary traders have seen over the same period.

As always, these are observations of what the chart and the indicator currently display — not a forecast of where price is headed next.