VANRY’s sharp decline doesn’t look like a low-participation pullback: while the price fell 37.1% over 24 hours, spot volume increased by 492.5%. The fact that, in taker trades, the sell side leads with 62% suggests that the rising activity is occurring alongside genuine selling pressure.

This picture implies that the move isn’t solely due to technical weakness and that distribution risk is coming to the forefront; however, because there is no derivatives/futures market data available, the positioning side cannot be confirmed. The main point to watch is whether the price will form a new low while high sell volume persists.