I watched the volume and both up and down this week and you are seeing less and less of large block trades, say 10k and higher. Most of the down stuff yesterday was smaller hands letting go after the morning purge. On the bad side was buying volume above the open price was almost dead. Stock just sat there at 1.88 with no takers.
This is a way of stating what normal basing action accomplishes on a chart. And why you hear the saying, the wider the base, the higher in space. Transition of ownership has to occur to eliminate upside resistance.
The downside is that strength at the 1.80 level was punched, so we still could lower the trading range again for awhile. The gap can still be filled at 1.73.