why that?
Because pretty simple:
A lot was bought in the 0.008 not only by longterm community but also by others, new to uno. Most shortterm-profittakers have been bought out in that range. I have just been watching the market too. Support is gathering in the 0.008 to 0.0082 range.
Since uno is no pump and dump but a very fine, clean and fair coin which was grossly undervalued before (coinex) and still is much too cheap i think any dip below 0.008 will only be temporary and recover pretty quickly back to that mark. Uno is hoarded by many. It will just get more scarce over time.
We have no other downward pressure in uno than just people who bought it cheaper. No hard sellpressure from miners and no inflation through pos diluting the coinsupply. Most coins are held by longtermers who believe in the coin and don't think of selling cheap.
Additionally: we had one large dump by one single person last 24h which was putting a lot of stress on the market. For me this dump represents not the overall sentiment in the market. The pretty large dump was absorbed relatively good by the market and did not cause great reactions other than a very slow decline which comes from the fact the buysupport was taken out completely by that dump. Needs some time to come back. But since we don't have those inflation-problems downward pressure is minimal and i am confident demand will outstrip supply many times at these prices. 15 coins bought a day is enough to counter the impact of the inflation - that would be if the miners would all be selling which is not the case. Many of them are holding too. So only downward pressure are said profittakers. That's why i don't see it going below 0.008 for any prolonged time.
Just my 2 cents of course.
Most new people who came in bought in the 0.008 and community aswell (in fact we were just eating a sellwall at 0.01) - so all those people will not be selling below 0.008 - i see only some unpleasant passangers in uno like the one dumping 0.7% of total supply on the market a few hours ago - those people apparently need to be bought out over time. They are the only existing sellpressure high enough to consider. I think we can outnumber them.
Once we got those uno will be hotter than any other coin because low sellpressure and all the other good things.
I also noticed sellorders moving down only very reluctantly overall which is a pretty bullish signal. It's not like people were in a rush to sell.
Hope i am not all too far off with the analysis.
Many people did just a few days ago hear about uno and many will still be sitting on the sidelines and looking for an entry. The large dump hours ago was from my viewpoint an error just like that 1 ton sold at the 28th of september as low as 0.0028 was an error back then. I think in the end of the day these dumps are good for distribution of the coins to more people. If there would not be these dumps people would hate uno for not letting them in while only rising. So they do also have a positive side to them, believe it or not.
I am always happy to hear your opinion too.
