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The SOL/BTC pair broke a long-held support level as analysts tracked growing weakness against Bitcoin while banks assessed Solana’s longer-term role in micropayments and digital commerce. On February 4, 2026, market analyst CryptoBullet shared a weekly SOL/BTC chart using Binance data showing a structural decline.
The ratio traded near 0.0012603 and fell about 3.68 percent for the week. The candle opened around 0.0013091, reached a high near 0.0013417 and slid toward a low close near 0.0012492. The price scale extended toward the 0.0007 to 0.0008 region, suggesting deeper downside risk.
The chart marked a thick horizontal support line that guided price action through several market cycles. SOL/BTC rallied sharply from below that level in 2023 and surged into 2024 through a steep vertical advance.
As time passed, price behaviour shifted. Rounded peaks formed across the highs. Curved outlines on the chart resembled a distribution pattern similar to a head-and-shoulders structure. Momentum faded as Solana failed to maintain relative strength against Bitcoin.
Weekly candles then compressed toward the support zone. Selling pressure increased near that level. The most recent candles pushed through the support line and confirmed a breakdown. A red arrow on the chart projected further downside. Prior support now appeared positioned as resistance.
CryptoBullet captioned the chart, stating the setup looked really bad. The post went live at 5:00 PM on February 4, 2026. Replies beneath the post showed mixed reactions. Some users discussed long-term accumulation levels. Others warned that relative weakness versus Bitcoin may persist.
At the same time, institutional forecasts offered a different long-range narrative. UK-based bank Standard Chartered argued Solana could move beyond its memecoin phase. The bank expects growth in micropayments and small-value digital transactions.
Geoffrey Kendrick, head of digital assets research at Standard Chartered, said Solana stands well-positioned to capture micropayment expansion. Kendrick projected Solana reaching 2000 dollars by the end of 2030. He tied the outlook to ultra-low transaction fees and new application models.
Read More: How is Solana Defying Market Uncertainty With Strong Fundamentals?
Kendrick also outlined near-term caution. He lowered Solana’s 2026 price target to $ 250 from $ 310. At the time, Solana traded near $102, with a market value of around $57 billion.
The thesis focused on payments too small for traditional systems. Examples included per article payments, creator rewards per view and automated AI agent services. Traditional processors charge about 0.30 dollars per transaction, which blocks micropayments.
Blockchain costs also posed limits. Ethereum fees sometimes exceed viable thresholds. Kendrick pointed to x402, a protocol from Coinbase with an average transaction size of 0.06 dollars. The protocol runs mainly on Base, where average gas fees reach 0.015 dollars. That cost absorbs roughly 25 percent of each transaction.
Solana presented a contrast. Its median fee stood near 0.0007 dollars. Kendrick said the ultra-low cost enables micropayments at scale. Traditional firms like Stripe and PayPal charge up to 0.49 dollars plus percentages per transaction.
Can Solana’s payment vision offset near-term weakness against Bitcoin as the SOL/BTC chart breaks key support?
The SOL/BTC breakdown signals growing relative weakness as the price slips below long-term support. At the same time, banks outline a future where Solana’s low fees support micropayments. The key takeaway remains clear. Short-term pressure persists while long-term utility-driven growth stays on watch.
