SOL Chart Note — Nov 12: Trend Filter Down, Line at $91.30

Solana spent another quiet session near the lower end of its recent range, with price barely moved over 24 hours while the weekly picture still sits well below the highs. The Pullwave CYH Pullback Strategy remains in a short state on SOLUSDT.P, and its 1H trend filter is still pointed down. Here is how the chart looks this morning (2026-11-12, KST).

Market snapshot

SOL USDⓈ-margined perpetual futures (SOLUSDT.P) last traded at $82.98, a 24h change of +0.01%. The day's range runs from a 24h low of $82.13 to a 24h high of $85.83, so the session has stayed inside a narrow band after a heavier week. Zooming out, the 7-day high is $97.08 and the 7-day low is $81.25, meaning current price sits closer to the weekly floor than to the weekly ceiling.

On the derivatives side, the latest funding rate is 0.0025%. Open interest stands at 9,556,914 SOL (about $793M), down -1.57% over the past 24 hours — positioning has thinned slightly while price has gone sideways.

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 — there is no machine learning involved, just a defined rule set that plots entries, add-on entries and exits directly on the chart, along with an add-on conditions table and optional alerts. The user places any orders themselves.

The core of the logic is a 1H trend filter: a volatility-based trailing line drawn on the 1-hour chart. The line sits above price when the filter is in a down state and below price when it is in an up state, and it only flips when a 1H candle closes on the other side of it. That filter decides which direction the 15m execution layer is allowed to work in.

As of this morning, the 1H trend filter is DOWN, and the 1H trend line sits at $91.30. A 1H close above that line would flip the trend filter to UP. Until that happens, the filter stays in its current state regardless of intraday wiggles.

The indicator's position state has been short since Oct 8, 11:00 UTC (10/8 20:00 KST). Its most recent plotted event was an add-on entry (short) at Oct 31, 20:00 UTC (11/1 05:00 KST) near $95.78. An add-on entry is what the indicator marks when price pulls back inside an established trend and the add-on conditions in its table are satisfied — it is an extra marker in the same direction as the existing state, not a new or opposite signal. A partial exit, by contrast, is marked when a move extends; the indicator plots it on the chart as a scale-out point rather than closing the whole position state. No new indicator event has printed since that Oct 31 add-on marker.

Key levels on the chart

• $97.08 — 7-day high
• $91.30 — Indicator 1H trend line
• $85.83 — 24h high
• $82.13 — 24h low
• $81.25 — 7-day low

Solana ecosystem and official updates

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

Firedancer Mainnet Release v26.10.8 — 2026-11-11. Firedancer released mainnet-ready version v26.10.8, improving incremental snapshot load performance, stake delegation cache telemetry, and transaction replay performance, and fixing a rare address translation bug during CPI. Source: Firedancer (GitHub)

Solana Privacy Rings Bring Programmable Privacy Onchain — 2026-11-10. Helius launched Solana Privacy Rings on mainnet, a permissionless privacy protocol offering encrypted balances, private transfers, and programmable privacy for DeFi applications. Source: 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 added speakers including Revolut Chair Martin Gilbert, former UK Prime Minister Boris Johnson, and former Chancellor Sajid Javid to the Breakpoint 2026 lineup, taking place 15–17 November at Olympia London. Source: solana.com

What to watch next

The simplest marker on the chart 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; as long as closes stay below it, the filter remains in its current down state and the 15m execution layer keeps working on that side.

Between here and that line, $85.83 (24h high) is the nearest upper reference, and a push through it would put price back toward the middle of the weekly band, with $97.08 (7-day high) as the outer marker of the last seven days.

On the downside, $82.13 (24h low) and $81.25 (7-day low) are the two nearest references. Price trading below $82.13 would mean the session is extending beneath its own range, and $81.25 is the lowest point of the past week. With open interest slightly lower over 24 hours and funding at 0.0025%, there is no unusual pressure in the perpetual market at the moment — the chart's decision point remains the $91.30 line.