I think a few people (including myself) were building up long positions in the 0.002-0.0022 zone, but with the downspike those positions were liquidated at the market price, causing the last selloff from 0.00195 to 0.00167. These kind of stop loss runs are quite common on the Bitcoin market, now that margin trading is possible we should get used to it at Monero as well.

If that wall at 0.00165 is real, than it could be the bottom, if not, the next support is at 0.0014 but a retest of the 0.001 level is also a possibility.