SOL Chart Note, Nov 4: 1H Trend Filter Down at $99.19

Solana is trading in the middle of its recent weekly range this morning, with the Pullwave CYH Pullback Strategy still reading the higher timeframe as a downtrend. The indicator's position state has not changed since early October, and its most recent on-chart event was an add-on entry at the start of November. Below is the state of the chart as of 2026-11-04 (KST), with the levels the indicator is currently referencing.

Market snapshot

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) last printed $93.51, a 24h change of +1.87%. The session has been contained between a 24h low of $91.23 and a 24h high of $93.92, which is a narrow band compared with the wider weekly picture: the 7-day high sits at $103.89 and the 7-day low at $90.82.

Positioning data is quiet. The latest funding rate is 0.0100%, and open interest stands at 9,287,971 SOL (roughly $869M), down -1.31% over 24 hours. A slightly lower open interest alongside a mildly positive day suggests some contracts were closed rather than new exposure being stacked, but it is a small change either way.

What the Pullwave indicator shows

The Pullwave CYH Pullback Strategy runs on fixed price-and-volume rules — nothing adaptive, nothing predictive. It has two layers.

The first layer is the 1H trend filter. This is a volatility-based trailing line plotted on the 1-hour chart. The line follows price at a distance that widens when the market is choppy and tightens when it is calm, and its position relative to price defines the filter's state. Right now that state is DOWN, and the trend line sits at $99.19. In practical terms, the indicator only looks for short-side setups while the filter reads DOWN. If a 1H candle were to close above $99.19, the trend filter would flip to UP and the indicator's bias would change with it.

The second layer is 15m execution. Once the higher-timeframe filter has a direction, the indicator waits for a pullback inside that trend on the 15-minute chart before marking an entry. The indicator's position state is currently SHORT, held since Oct 8, 11:00 UTC (10/8 20:00 KST).

Two other markers appear on the chart. An add-on entry is a second (or later) marker in the same direction as the existing position, printed when price pulls back inside an established trend and the add-on conditions table turns valid. The most recent one was an add-on short at Oct 31, 20:00 UTC (11/1 05:00 KST) near $95.78. A partial exit is the opposite marker: when a move extends, the indicator prints an exit label for part of the position rather than closing everything at once, leaving the rest to run while the trend filter holds.

The 1H structure is currently read as a pullback phase inside the downtrend — price working back up inside the move rather than making fresh lows. All of this is drawn on the chart; order placement is always done by the user.

Key levels on the chart

• $103.89 — 7-day high
• $99.19 — Indicator 1H trend line
• $93.92 — 24h high
• $91.23 — 24h low
• $90.82 — 7-day low

Solana ecosystem and official updates

Network status on status.solana.com reads All Systems Operational.

Solana Changelog: October 29, 2026 — 2026-10-29. Solana's weekly changelog reports the CLI decoupling from cargo-build-sbf, the shipping of offchain message signing, and new releases across Agave, Firedancer, Superbank, Solana Kit, and Token-2022. solana.com

Solana Breakpoint 2026 Adds Revolut Chair, Former Prime Minister, Former Chancellor and City Leaders to London Lineup — 2026-10-26. The Solana Foundation announced additional speakers for Breakpoint 2026, taking place 15–17 November at Olympia London, including Revolut Chair Martin Gilbert, former UK Prime Minister Boris Johnson, and former Chancellor Sajid Javid. solana.com

Release v4.4.0 — 2026-10-28. Anza released Agave v4.4.0, a stable release recommended for general adoption as well as Testnet and Devnet, including changes such as building vote accounts from a padded vote state encoding and pinning cargo-build-sbf and spl-token-cli to their latest release. Anza Agave (GitHub)

What to watch next

The single most mechanical thing on the chart is the trend line. If a 1H candle closes above $99.19, the indicator's trend filter would flip from DOWN to UP, and the short-side bias that has been in place since Oct 8 would no longer apply. Until that happens, the filter stays DOWN regardless of how price behaves intraday.

Below current price, $91.23 is the 24h low and $90.82 the 7-day low; trade accepted beneath those would mean the pullback phase the indicator is currently reading has given way to continuation, and any further markers would print inside that context. On the upside, $93.92 is the immediate 24h ceiling, with $103.89 as the 7-day high — the only reference above the trend line in this data set.

Funding at 0.0100% and open interest down -1.31% give no directional tilt of their own; they are simply context for how crowded the market is while price works between $90.82 and $103.89.