ONCHAIN On-Chain · Updated February 2026 · ~4 min · For TradingView desktop 3.2.1
Realized Price and Cost-Basis Bands
Realized price = each coin valued at the price of its last on-chain move, averaged across the network. It approximates the network's average cost basis — where this line sits largely sets the market's psychological support and resistance.
Why it matters
- Market price below realized price: the aggregate is underwater — historically deep-bear/bottom territory, reluctance and capitulation together;
- Price reclaiming and holding above realized price: the aggregate flips to profit, sentiment repairs;
- It often acts as key support or resistance at bull/bear turns.
Cost-basis bands
A finer use is separating short-term holder cost from long-term holder cost: in a bull, price often finds support at the STH cost line (retests hold); losing it usually signals weakening trend.
Tip: realized price is a cycle and structure tool; read it with HODL Waves and NUPL. It explains "why there's support here," not short-term moves.