When the price is low it makes everyone is panic, doesn't need to be any exact price, only if it hits low price means everyone is panic and start selling their coins.
Nope I think not all users will easily panic when the price goes down. although the main thing is a deep fall in prices but something else. maybe there should be an event and accompanied by a lot of worsening news and speculation. with all the merge it will generate panic in many users
maybe yes specially for long time holders they may not able to sell easily their coin when they see the price goes down , and when they actually had been experience this kind of scenario before but for the first timer well they may have to feel this but they have to control this for.