The market has been a roller coaster these past few days. BTC once dropped to 24,111, feeling like a heart attack, then rebounded back to 87,000. The volatility has really scared people out of their wits.

A few recent events are worth noting. The options market is quite fierce, with $24 billion in Bitcoin options and $6 billion in Ethereum options expiring this Friday. Currently, put options are clearly dominant. Major players on the platform are also pulling out, with deposits halving from $7.9 billion to $3.9 billion, indicating risk aversion. Coupled with the flash crash of BTC this time, market sentiment remains quite tense.

However, from the weekly chart, several mainstream coins are approaching key support levels.

ADA is now around 0.35, having dipped to a low of 0.3466 last week. It’s less than 10% away from the start point of its rally last November at 0.3201, with weekly support levels right in front of us.

XRP’s situation is similar; the current price is close to this year’s April low of 1.6134. Last week, it dipped to 1.7711. A further 10% decline would bring it to that critical support level.

DOGE is now at 0.127, with the starting point of its rally last October at 0.10931. There isn’t much room to fall from this position.

Looking at these coins’ trends, it’s either a continued drop to test how strong the bottom is, or it’s about time for a rebound. Recently, there was an incident where a big player called for the US economic growth prospects, which sparked traders’ expectations of liquidity warming, possibly boosting risk appetite. We’ll just have to see how the market develops.