RE:status I couldn't tell you if this a just a dip. Only the Market Makers (MMs) and the stock promoters know when the real end game is for the Lithium stock's correction. Currently it is in a free fall. I would expect major support around the $1.00 or a little higher given its recent big run. But, don't be in the business of picking bottoms. Wait for a trend to form first before re-entering a new trade.
On the hourly chart, if the price breaks 1.44 then this will go down to the $1.00 line.
$LBY.V Hourly Chart