Staring at the candlestick chart, have you noticed that the market often gets stuck at certain points? This is exactly such a situation—the price is firmly pinned at the $123 level. It may seem like a simple number, but behind it lies the potential for accounts to double or be cut in half.

Here, it’s important to clarify what the true "life and death line" is. The industry commonly refers to the Short-Term Holder's Average Cost Line (STH-RP), which represents the overall average holding cost of investors who entered within the past 155 days. This group is quite special—they want to take profits quickly, and cut losses when things go south. Their collective decisions directly influence the short-term market trend.

Looking at the historical candlestick data from the past five years, you’ll find a pattern: this cost line’s role is more magical than any technical indicator because it truly reflects market sentiment. Whenever critical points are reached, mainstream crypto assets have never easily broken through this barrier in one go. Ultimately, this is not just a price resistance but a emotional watershed.

The logic is harsh: when the price stays above the cost line, short-term holders are in profit, their mentality is relaxed, and they are not selling; instead, they dare to add positions. This line then becomes an unbreakable "floor." But once it is broken, the situation reverses—investors who were just in profit are suddenly trapped, panic selling spreads like a domino effect, and the original "floor" becomes an insurmountable "ceiling." Any subsequent rebound will be suppressed by the short-sellers. That’s why the $123 figure deserves your serious attention.