SOL Chart Note, Oct 18: Pullwave 1H Trend Filter Still DOWN

SOL is trading at $103.01 on the USDⓈ-margined perpetual (SOLUSDT.P), down -1.21% over the last 24 hours. The Pullwave CYH Pullback Strategy is still in a short state on this market, and its 1H trend filter reads DOWN with the trailing trend line sitting at $110.66. Below is today's read of the chart, the levels the indicator is working around, and the official Solana updates from the past week.

Market snapshot

Price has spent the session inside a fairly narrow band: the 24h high is $105.24 and the 24h low is $101.16, with the last print at $103.01. Zooming out to the week, the 7-day high is $113.38 and the 7-day low is $100.51, so the current price sits in the lower half of that weekly span and closer to the 7-day low than to the 7-day high.

Derivatives positioning has been cooling rather than building. Open interest stands at 8,830,780 SOL (about $910M), a change of -4.69% over 24 hours, which means contracts have been closed out rather than added during this stretch. The latest funding rate is -0.0044%, a small negative number, so shorts were paying longs at that reading rather than the other way round. Neither figure is a signal by itself — they are context for how crowded the move is.

On the network side, status.solana.com reports All Systems Operational, so nothing in the chart action traces back to a chain incident today.

What the Pullwave indicator shows

The CYH Pullback Strategy runs on two timeframes. The slower one is a 1H trend filter: a volatility-based trailing line drawn on the 1H chart. It only moves in one direction while the trend holds, and it flips when price closes through it on an hourly candle. Right now that filter reads DOWN and the line sits at $110.66, which is the level the indicator is watching for a flip — a 1H close above $110.66 would turn the trend filter to UP.

The faster timeframe is 15m execution. While the 1H filter points down, the indicator looks for pullbacks against the move on the 15m chart and marks short entries there. It has been in a short state since Oct 8, 11:00 UTC (10/8 20:00 KST). The most recent event it printed was an add-on entry on the short side at Oct 15, 00:00 UTC (10/15 09:00 KST) near $104.24.

Two terms worth defining plainly. An add-on entry is a second marker the indicator prints when price pulls back inside the existing trend and its add-on conditions table turns favourable — it is an extra position-building label, not a new independent trade. A partial exit is what the indicator draws when the move extends in its favour; it closes part of the marked position and leaves the rest running under the trend filter. Both are chart annotations from fixed price-and-volume rules. The indicator does not place orders; anything that happens in an account is placed by the trader.

The 1H structure is currently labelled a pullback phase inside the downtrend — price working back up against the direction of the 1H filter without that filter changing state.

Key levels on the chart

• $113.38 — 7-day high
• $110.66 — Indicator 1H trend line
• $105.24 — 24h high
• $101.16 — 24h low
• $100.51 — 7-day low

Solana ecosystem and official updates

Release v4.3.2 — 2026-10-15. Anza released Agave v4.3.2, a stable client update for Testnet, Devnet and Mainnet Beta, including CI audit fixes and a ledger-tool change bumping the max supported transaction version. Source: Anza Agave (GitHub).

Firedancer Mainnet Release v26.10.2 — 2026-10-14. Firedancer released mainnet-ready v26.10.2 with Alpenglow support enabled by default on testnet and devnet, reduced mainnet memory usage from 183 to 159 GiB, and snapshot loading as fast as 40 seconds. Source: Firedancer (GitHub).

Geo-Aware Leader Schedule — 2026-10-14. A study of SIMD-0675, a geo-aware leader schedule, tested 6,250 synthetic networks across 124 validator locations and recommends STAKE_FLOOR near 10% and RUN_LENGTH between 3 and 7, yielding about 29 ms mean handoff gain at γ=7. Source: solana.com.

More Breakpoint 2026 Speakers Confirmed for London — 2026-10-12. Twelve more speakers joined the Breakpoint 2026 lineup, including leaders from Backpack, Sunrise, Zelle, Bitwise, Y Combinator, Jupiter and Helius, ahead of the event at Olympia London from 15-17 November. Source: solana.com.

What to watch next

Everything below is conditional and framed around the indicator's own state, not a forecast.

If a 1H candle closes above $110.66, the indicator's trend filter would flip from DOWN to UP, and the short state it has held since Oct 8, 11:00 UTC would no longer have the 1H filter behind it. Until that happens, the filter stays down and the 15m side keeps treating moves up toward that line as pullbacks inside the downtrend.

Between here and there, $105.24 is the nearest reference above price as the 24h high, and $113.38 marks the top of the weekly span. On the other side, $101.16 is the 24h low and $100.51 is the 7-day low; a move through those would put price below everything it has traded at over the past week. A pullback that stalls under $110.66 is the setting in which the indicator's add-on conditions table is usually relevant, since the last add-on marker it printed came near $104.24 during this same phase.

Worth noting for anyone reading the chart along: the indicator displays on TradingView's free plan, while creating alerts from it requires a paid TradingView plan (Essential or higher).