Average short-term (less than 155days) realized price that is calculated as realized cap divided by the total coin supply is often used as an important indicator of support and resistance in the price.

In fact, the 'Average short-term realized price(hereafter referred to as STH realized price)' acted as important support in March '23, June '23, and Jan '24 and as important resistance in April '22, November '22, and October '23.

However, each time the price broke out of support or resistance, it went one way, with price volatility increased.

The current STH realized price is located of $58,500, and fortunately, the price has bounced back from that price.

Written by SignalQuant