SOL Chart Note — Nov 8: Pullwave 1H Trend Filter Stays Down

Solana's perpetual futures market opens today in a narrow band, with price sitting closer to the lower end of its weekly range than the upper end. The Pullwave CYH Pullback Strategy remains in a short state on SOLUSDT.P, and its 1H trend filter is still pointing down. Below is the daily read of the chart: where price is, what the indicator is displaying, and which levels would change the picture.

Market snapshot

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) last traded at $89.41, a 24h change of -0.79%. The intraday range has been compressed: the 24h high is $90.63 and the 24h low is $88.67. Stepping back one week, the 7-day high is $98.16 and the 7-day low is $88.24, so the current price sits in the lower portion of that weekly span.

Positioning data is quiet rather than stressed. The latest funding rate is 0.0021%, close to neutral, which suggests neither side is paying a heavy premium to hold exposure. Open interest stands at 9,344,034 SOL (about $836M), up +0.82% over 24 hours — a small build rather than a sharp expansion or a flush.

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. Its signals come from fixed price-and-volume rules — it is not AI, and it does not place orders. Everything it does is drawn on the chart: long and short entries, add-on entries, exits, an add-on conditions table, and optional alerts. The user decides what, if anything, to do with that information.

The backbone of the logic is a 1H trend filter. That filter is a volatility-based trailing line plotted on the 1H chart: it follows price at a distance that widens when the market is choppy and tightens when it is calm. As long as 1H closes stay on one side of that line, the filter keeps its direction. Execution then happens on the 15m chart, so the higher timeframe decides the bias and the lower timeframe decides the timing.

As of this morning, the 1H trend filter reads DOWN, and the indicator has held a short position state since Oct 8, 11:00 UTC. The 1H trend line currently sits at $95.55. A 1H candle closing above that line would flip the trend filter to UP.

The most recent indicator event was an add-on entry (short) printed at Oct 31, 20:00 UTC, near $95.78. An add-on entry is what the indicator marks when price pulls back inside an existing trend and its conditions line up again — in other words, the same direction is being re-signalled rather than a fresh trade being opened. On the other side, a partial exit is the marker the indicator prints when a move extends far enough that part of the position is treated as closed, leaving the rest to run while the trend filter still holds. Both are chart labels, not instructions.

Viewing the indicator works 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.

Key levels on the chart

• $98.16 — 7-day high
• $95.55 — Indicator 1H trend line
• $90.63 — 24h high
• $88.67 — 24h low
• $88.24 — 7-day low

Solana ecosystem and official updates

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What to watch next

The simplest marker on the chart today is the 1H trend line at $95.55. While 1H closes stay below it, the indicator's trend filter stays in its DOWN reading and the position state remains short. If a 1H candle closes above $95.55, the trend filter would flip to UP, and the indicator's bias on the chart would change with it.

Between here and that line sits the 24h high at $90.63, the first level that price would need to clear on the way back up, followed by the 7-day high at $98.16 above the trend line. On the downside, the 24h low at $88.67 and the 7-day low at $88.24 mark the lower edges of the recent range; trade below them would put price outside the week's established band, while the trend filter reading would still be governed only by 1H closes relative to $95.55.

With funding at 0.0021% and open interest up +0.82%, there is no obvious crowding signal in today's data. The chart, not the narrative, is where the indicator's state is visible: the trend filter direction, the short position state held since Oct 8, and the add-on entry marked near $95.78 on Oct 31.