SOL Chart Note - Nov 15: 1H Trend Filter Sits at $79.71

SOL is trading at $69.27 after a sharp session, with the 24h change at -10.84%. The Pullwave CYH Pullback Strategy on SOLUSDT.P is in a short state, and its 1H trend filter still reads DOWN. Below is the usual walk through the numbers, the indicator's state, the levels drawn on the chart, and the official Solana updates on the calendar.

Market snapshot

On the SOL USDⓈ-margined perpetual futures market (SOLUSDT.P), the last price is $69.27, a 24h change of -10.84%. The 24h range runs from a low of $68.52 to a high of $78.46, meaning price is sitting near the lower edge of the day's range rather than the upper one. Stepping back to the week, the 7-day high is $89.98 and the 7-day low is $68.52 — today's low is also the weekly low, so the market is printing its lowest level of the past seven sessions.

Positioning data is more muted than the price action. The latest funding rate is -0.0134%, a slightly negative reading, which means perp holders on the short side are paying the long side at that rate for the current interval. Open interest stands at 9,220,235 SOL (about $639M) with a 24h change of +0.07% — essentially flat. In plain words: the drop happened without a meaningful build-up or flush in the total size of open perp positions.

What the Pullwave indicator shows

The Pullwave CYH Pullback Strategy runs a two-layer structure. The first layer is a 1H trend filter: a volatility-based trailing line plotted on the 1-hour chart. The line only changes side when price closes through it on a 1H candle, so it is deliberately slow and ignores most intrabar noise. As of this morning the filter reads DOWN, and the 1H trend line sits at $79.71. A 1H close above $79.71 would flip the trend filter to UP; until that happens, the filter stays on the down side.

The second layer is 15m execution. Inside whichever direction the 1H filter allows, the indicator waits for a pullback — a counter-move against the prevailing trend — and marks its entries, add-on entries and exits directly on the chart. An add-on entry is simply a second (or later) marker in the same direction as the position already held, printed when a pullback inside the trend meets the indicator's fixed price-and-volume conditions. A partial exit is a marker that closes part of the position when the move extends; the rest of the position stays flagged on the chart.

The indicator's current position state is SHORT, held since Oct 8, 11:00 UTC. The most recent event it printed was an add-on entry on the short side at Oct 31, 20:00 UTC, near $95.78. Nothing new has printed since then, so the chart is simply carrying the existing short state with the 1H filter still pointing down. The signals come from fixed rules, not from discretion, and the trader places any orders themselves.

Key levels on the chart

• $89.98 — 7-day high
• $79.71 — Indicator 1H trend line
• $78.46 — 24h high
• $68.52 — 24h low

Solana ecosystem and official updates

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

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 Prime Minister Boris Johnson, former Chancellor Sajid Javid, and leaders from Zelle, DTCC, Mastercard, Backpack, and Bitwise. solana.com

DTCC Tokenization Service to Connect with Solana — 2026-11-12. DTCC announced plans to connect its Tokenization Service to Solana in the second half of 2027, letting eligible DTC-custodied assets be tokenized onchain while retaining existing investor protections and regulatory safeguards. solana.com

Solana Privacy Rings Bring Programmable Privacy Onchain — 2026-11-10. Helius launched Solana Privacy Rings on mainnet, a permissionless privacy protocol offering encrypted balances and private transfers, where assets and amounts are encrypted while wallet addresses remain visible and only users can decrypt balances with a viewing key. solana.com

Solana Changelog: November 12, 2026 — 2026-11-12. This week's changelog covers new Agave v4.5.0-beta.0 and v4.4.1 releases, Firedancer Testnet Release v26.11.0 and Mainnet Release v26.10.8, plus proposals on vote costs and durable nonces. solana.com

What to watch next

The single mechanical line on the chart is $79.71. If a 1H candle closes above $79.71, the indicator's trend filter would flip to UP and the 15m execution layer would be looking for pullbacks on the other side; as long as 1H closes stay below it, the filter remains DOWN and the short state stands as drawn.

Between price and that line sit the 24h high at $78.46 and, further above, the 7-day high at $89.98. A recovery that stalls under $78.46 would leave the 1H trend line untouched, while trade back above $78.46 would put price into the narrow band directly beneath $79.71. On the downside, $68.52 is both the 24h low and the 7-day low, so it is the most recent level where the market has turned; a sustained move below it would mean the chart is making new weekly lows and the indicator's short state would be carried into fresh territory.

The context around the chart stays the same: funding at -0.0134%, open interest flat at +0.07% over 24h, and the network reporting All Systems Operational while Breakpoint 2026 runs 15–17 November in London.