SOL Chart Note — Nov 5: 1H Trend Filter Down at $98.49

Solana's perpetual futures market starts Thursday with a modest bid, while the Pullwave CYH Pullback Strategy still reads the higher timeframe as down. Price is working inside the zone between yesterday's extremes, and the indicator's 1H trend line sits overhead as the single reference that would change its trend reading. Here is the state of the chart as of this morning, with no recommendations attached.

Market snapshot

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) last traded at $95.42, a 24h change of +2.03%. The session has ranged between a 24h high of $98.16 and a 24h low of $89.80, and that low is also the 7-day low. On the weekly view, the 7-day high stands at $103.16, so price is currently working in the lower portion of the last seven sessions.

Positioning data is quiet. The latest funding rate is 0.0100%, and open interest is 9,275,204 SOL (about $885M), a 24h change of -0.10%. In other words, the bounce off $89.80 has not come with a visible build in aggregate exposure.

What the Pullwave indicator shows

The Pullwave CYH Pullback Strategy is an invite-only TradingView indicator built for SOLUSDT.P on the 30m and 15m charts. It runs on fixed price-and-volume rules — it is not AI — and it plots long and short entries, add-on entries and exits directly on the candles, alongside an add-on conditions table.

Two pieces drive what you see. The first is the 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 volatile and tightens when it is calm, and whichever side of the line the 1H closes on defines the filter's state. The second is 15m execution: once the filter has a direction, the indicator only looks for setups on the 15m chart that agree with it.

Right now the 1H trend filter reads DOWN, and the indicator's trend line sits at $98.49. The indicator's position state has been short since Oct 8, 11:00 UTC. Its most recent event was an add-on entry (short) on Oct 31, 20:00 UTC, near $95.78. An add-on entry simply means the indicator marked a second entry in the same direction as the existing position after a pullback inside the trend; a partial exit, which it also plots, means part of the position is marked as closed when a move extends, leaving the remainder running. The current 1H structure is a pullback phase inside the downtrend — price is retracing against the prevailing direction rather than making new lows.

The indicator can be displayed on TradingView's free plan; creating alerts from it requires a paid TradingView plan (Essential or higher). Access is granted on a TradingView username, usually within one business day. Every backtest and every trade is published on the site, and futures backtests include fees, funding and slippage.

Key levels on the chart

• $103.16 — 7-day high
• $98.49 — Indicator 1H trend line
• $98.16 — 24h high
• $89.80 — 24h low

Solana ecosystem and official updates

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

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

Solana Community Awards 2026: Meet the Finalists — Nov 3, 2026. The Solana Community Awards 2026 feature 48 finalists across 12 community-voted awards; voting closes November 9, and the ceremony streams live from London on November 13. solana.com

Solana Changelog: October 29, 2026 — Oct 29, 2026. Solana CLI is decoupling from cargo-build-sbf as offchain message signing ships, alongside new Agave, Firedancer, Superbank, Solana Kit, and Token-2022 releases. solana.com

What to watch next

The cleanest reference is the indicator's own line. If a 1H candle closes above $98.49, the trend filter would flip from down to up, and the 15m execution side would stop looking for short-side setups. Until such a close prints, the filter stays in its current down state and the chart remains in the pullback phase described above.

Below the trend line, the 24h high at $98.16 marks the top of the current session's range, and $103.16 is the 7-day high that still caps the weekly picture. On the other side, $89.80 is both the 24h low and the 7-day low; a reclaim of that area as support versus a 15m close back under it is the kind of distinction that changes how the pullback reads. With funding at 0.0100% and open interest down -0.10% over 24h, neither side of the book is showing an unusual build as price sits at $95.42.