Crypto traders are buzzing about Solana (SOL) as it shows strong support at $120, potentially setting the stage for a significant price surge. Veteran trader Peter Brandt highlighted this key level, noting SOL's consolidation since mid-April. Fellow trader TraderKoz echoed this sentiment, suggesting a buy zone between $135 and $140.

Solana has outperformed other top cryptocurrencies, with an 8.82% rise over the past week, surpassing Bitcoin's 6.45% gain. Currently trading at $148.50, SOL aims for a short-term target of $160.

Futures traders are also bullish, with Open Interest rising 12.5% to $2.34 billion. Despite a recent dip, Solana's Total Value Locked (TVL) has increased to $5.15 billion, and daily transactions have nearly doubled, indicating growing network activity and adoption.

This article does not contain investment advice. Always do your own research before making trading decisions.