SOLVE is moving like a hot altcoin. To date, the percentage moves have been impressive.

It is tough to get a read on an altcoin that suddenly wakes up and starts ripping like this. In this particular case, it appears FOMO has already set in. If we are correct that a massive chase is on, that could lead to a move to the 200-day moving average (black line). That level is 2050.

In this case, it is essential to look at the 200-DMA because the 200-DMA represents a longer-term equilibrium for a market. So, if SOLVE is making a transition from an abandoned altcoin to a viable project, then it is logical for it to return to its 200-DMA.

Bottom Line: The chase is on in SOLVE. If SOLVE holds above 1474, traders chasing performance can push it higher.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice.  The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.