The next move of Ethereum may depend on a Binance indicator — are you watching it?

Ethereum ($ETH) recently reacted near the level of $2,392—an event that was not random, according to on-chain analyst Crazzyblockk. He highlights this price point as the realized price of the deposit addresses of Binance users, a critical indicator that reflects the average cost of ETH held on Binance. Given Binance's position as the exchange with the largest reserves of ETH, this level carries substantial market weight. Other realized prices in key groups include $2,706 for OKX depositors, $2,532 for addresses that frequently receive from CEXs, and $2,513 for highly active wallets. Among them, Binance's realized price of $2,392 stands out as the key support level. If Ethereum remains above $2,500, most holders stay in profit—reducing selling pressure and fueling bullish sentiment. However, if the price falls below that threshold, unrealized losses could trigger a cascade of selling. In a market where momentum often pivots on emotion and position, keeping an eye on Binance's realized price zone could be crucial for predicting Ethereum's next big move.