It looked like we had maybe finally bottomed and then we got rekt even further. In USD the price of smoke hit a low of about half a penny. It's not that we haven't had any buyers, we've just had a whole lot of sellers.
This is a very aggressive downtrend. If we stay below the drawn trend-line we will be at 0 by July 10th. We've gotta be near bottom, people who are selling are selling for almost nothing at this point.
The order books are heavily stacked on the buy side. There is 287k smoke in bids above 0.05 bts. If the buyers are serious, I don't really see that buy wall getting broken down. The thing is we've seen buyers repeatedly lowering their buy walls as sellers are willing to sell at lower and lower prices. Once there are no longer people willing to sell at low prices, I don't think we will stay there long.