SOL Nov 11: Short State, 1H Trend Line at $91.30

SOL starts the Korean trading day at $83.02, down -4.21% over 24 hours, with the session so far held between $81.25 and $86.80. The Pullwave CYH Pullback Strategy is still in a short state on SOLUSDT.P, and its 1H trend filter is reading DOWN. Below is today's read of the chart, the levels the indicator is working around, and the latest official Solana updates.

Market snapshot

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) last printed $83.02, a -4.21% move across the last 24 hours. The 24h range runs from $81.25 to $86.80, and the current 24h low of $81.25 is also the 7-day low, which means the weekly floor was set in this session rather than earlier in the week. On the upside, the 7-day high sits at $98.16, so the market is trading in the lower part of its weekly range.

Positioning data is quiet rather than dramatic. The latest funding rate is 0.0050%, and open interest stands at 9,692,691 SOL (about $805M), up +0.77% over 24 hours. Open interest edging higher while price slides is simply a note that contracts are still being held through the move, not a forecast of anything.

What the Pullwave indicator shows

The Pullwave CYH Pullback Strategy runs on fixed price-and-volume rules — there is no machine learning or discretionary input in it. Its structure has two layers. The first is a 1H trend filter: a volatility-based trailing line plotted on the 1-hour chart that sits above price in a downtrend and below price in an uptrend. As of this morning, that filter reads DOWN, and the trend line is at $91.30. A 1H candle closing above $91.30 would flip the filter to UP; until that happens, the indicator treats the higher timeframe backdrop as down.

The second layer is 15m execution. Inside an established trend the indicator waits for a pullback — a counter-trend bounce or dip — and marks entries on the 15m chart when its conditions line up. If the trend continues after the position is open, the indicator can print an add-on entry, which is simply a second marker in the same direction as the existing position. When a move extends, it marks partial exits, meaning part of the position is flagged as closed while the rest stays marked as open. All of these are drawn on the chart as labels, and the add-on conditions table shows which conditions are currently met. The user places every order themselves.

The current state: the indicator has been in a short position since Oct 8, 11:00 UTC (10/8 20:00 KST). The most recent event on the chart is an add-on entry on the short side at Oct 31, 20:00 UTC (11/1 05:00 KST), marked near $95.78. Since then no new entry marker has printed, and the short state has carried into today's session with price at $83.02.

Key levels on the chart

• $98.16 — 7-day high
• $91.30 — Indicator 1H trend line
• $86.80 — 24h high
• $81.25 — 24h low

These four are the only reference points used in this note. The trend line at $91.30 is the one that actually changes the indicator's state; the others are range markers that describe where price has already traded.

Solana ecosystem and official updates

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

Solana Privacy Rings Bring Programmable Privacy Onchain — November 10, 2026. On November 10, 2026, Helius launched Solana Privacy Rings on mainnet, a permissionless privacy protocol with encrypted balances and private transfers. It lets developers add programmable privacy to Solana applications via APIs while keeping wallet addresses visible. (solana.com)

Solana Breakpoint 2026 Adds Revolut Chair, Former Prime Minister, Former Chancellor and City Leaders to London Lineup — October 26, 2026. Solana Breakpoint 2026 takes place November 15-17 at Olympia London, with new speakers including Revolut Chair Martin Gilbert, former Chancellor Sajid Javid, and former Prime Minister Boris Johnson joining the lineup. (solana.com)

What to watch next

The single mechanical condition on the chart today is the 1H trend line at $91.30. If a 1H candle closes above $91.30, the indicator's trend filter would flip from DOWN to UP, and the 15m execution layer would then be looking for pullbacks in the opposite direction. As long as 1H closes stay below that line, the filter stays DOWN and the existing short state remains on the chart.

Between here and there, $86.80 is the 24h high — the nearest level price has already been rejected from in this session. Below the market, $81.25 is both the 24h low and the 7-day low, so it is the only level that currently serves as a weekly reference on the downside. Above everything sits $98.16, the 7-day high, which marks where the weekly range began.

If the market trades back into the pullback zones the indicator watches while the filter is still DOWN, a new add-on marker could appear; if the move extends further, a partial exit marker could print instead. Either way the indicator draws the label first and the reader decides what to do with it. Watching the add-on conditions table alongside the 1H close relative to $91.30 is the straightforward way to follow the state from here.

Displaying 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.