Crypto traders are closely monitoring Solana's price chart, noting a strong support line that could signal a significant upward movement soon. Veteran trader Peter Brandt highlighted the $120 support level on Solana's daily chart, suggesting a potential bullish trend. TraderKoz also emphasized the importance of the $120 level, recommending a long position after a retest between $135 and $140. Solana has outperformed other top cryptocurrencies in the past week, with a notable 8.82% growth. Market data indicates a positive outlook for Solana, with traders anticipating a target price of $160. Additionally, futures traders have increased their positions, contributing to a rise in Open Interest to $2.34 billion. Despite a recent decline in total value locked, Solana's on-chain transactions have surged, reflecting growing network activity and user adoption. This trend is expected to drive demand for SOL and potentially boost its price. Read more AI-generated news on: https://app.chaingpt.org/news