In my opinion This doesn't make much sense. Not sure what to make of it. There must have been many shares owned below the current price and that is what is being sold. That in combination with people cutting their losses. The volumes don't show a proper correlation either. Why not more volume, why doesn't the price have a few small drives up. What does someone know?
There has to be a point where the sellers say enough is enough and the price drives back up. The buyers are going to have to work for it now I believe. Hang on make them pay for their shares.