SOL Chart Note Oct 20: Trend Filter Down, $109.00 Line

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) are trading at $105.08 this morning, a 24h change of +0.90%. The Pullwave CYH Pullback Strategy is still reading the higher timeframe as a downtrend, with its 1H trend line sitting above the market at $109.00. Below is the state of the chart, the levels the indicator is working around, and the official Solana updates published over the past week.

Market snapshot

Price last printed $105.08 after a session that ranged between a 24h high of $106.22 and a 24h low of $103.45. Zooming out, the weekly picture is wider: the 7-day high is $109.01 and the 7-day low is $100.35, so the last 24 hours have been spent inside the upper middle of that weekly band rather than at either edge.

Positioning data is quiet. The latest funding rate is 0.0083%, and open interest stands at 8,784,483 SOL (about $923M), a 24h change of -1.52%. Open interest drifting lower while price ticks up is simply a sign that some exposure has come off the table over the past day; it is a description of the market, not a signal on its own.

What the Pullwave indicator shows

The Pullwave CYH Pullback Strategy runs on fixed price-and-volume rules. There is no machine learning or discretion involved — it is a mechanical setup that plots long/short entries, add-on entries and exits directly on the SOLUSDT.P chart, keeps an add-on conditions table on screen, and can fire TradingView alerts. Any order that follows is placed by the user.

The structure has two parts. The first is a 1H trend filter: a volatility-based trailing line drawn on the 1H chart. The line trails price at a distance that widens when the market is choppy and tightens when it is calm, and whichever side of the line the 1H closes on defines the filter's direction. The second part is 15m execution, which looks for pullbacks inside the direction the filter has already established.

Two words show up often in these notes. An add-on entry means the indicator has marked a second (or later) entry in the same direction after price pulled back inside the existing trend — the position it is tracking grows rather than restarts. A partial exit means the indicator has marked a close of part of the tracked position while the move was extending, leaving the rest of it live on the chart.

As of this morning:

• The 1H trend filter is DOWN.
• The indicator's position state is short, held since Oct 8, 11:00 UTC.
• The most recent indicator event was a partial exit (short) at Oct 18, 20:00 UTC, near $100.77.
• The 1H trend line sits at $109.00. A 1H close above that line would flip the trend filter to UP.

In other words, the indicator is still in a short state after the partial exit, and price has traded back up toward — but not through — the line that would change the filter's direction.

Key levels on the chart

• $109.01 — 7-day high
• $109.00 — Indicator 1H trend line
• $106.22 — 24h high
• $103.45 — 24h low
• $100.35 — 7-day low

Note how tightly the 7-day high at $109.01 and the 1H trend line at $109.00 are stacked. That means a single zone currently carries both a weekly structural reference and the indicator's trend-flip condition.

Solana ecosystem and official updates

Solana network status is All Systems Operational according to status.solana.com.

Firedancer Mainnet Release v26.10.2 — 2026-10-14. Firedancer v26.10.2 is mainnet ready, adding Alpenglow support (enabled by default on testnet/devnet), Solana 4.3 features, reduced mainnet memory use 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 evaluates SIMD-0675, a geo-aware leader schedule that reorders validators so consecutive leaders are geographically close, cutting handoff latency without changing each validator's number of leader windows. Source: solana.com.

Release v4.3.2 — 2026-10-15. Agave v4.3.2, a stable release for Testnet, Devnet and Mainnet Beta, includes CI fixes and a bumped max supported transaction version in ledger-tool, among other backported changes. Source: Anza Agave (GitHub).

More Breakpoint 2026 Speakers Confirmed for London — 2026-10-12. Twelve additional speakers from Backpack, Sunrise, Zelle, Bitwise and others join the Breakpoint 2026 lineup at Olympia London, which runs from 15 to 17 November. Source: solana.com.

What to watch next

A few conditional observations, using only the levels above:

• If a 1H candle closes above $109.00, the indicator's trend filter would flip to UP, and the short state currently on the chart would no longer be aligned with the filter.
• As long as 1H closes stay below $109.00, the filter stays DOWN and the 15m side of the indicator keeps looking for pullbacks on that side.
• Between $103.45 and $106.22, price is still inside yesterday's range, so there is no new daily extreme to work from yet.
• A move under $100.35 would mark a new 7-day low; a move over $109.01 would mark a new 7-day high and would sit in the same zone as the trend line.

The chart does the talking here: the filter's direction is defined by where 1H candles close relative to $109.00, and everything the indicator plots on the 15m chart follows from that.