I just reread your post and realised I didn't even attempt to...

I just reread your post and realised I didn't even attempt to answer your questions
It looks like immediately after price broke down below the green line, a shakeout took place in the form of a Two Bar Reversal, which, while coming close, didn't completely succeed.
If we include the gap down, the close of the second bar remained below the top of the first, indicated by the horizontal line you've arrowed, with the volume of the second recovery bar showing almost similar high volume as the first, not ideal as this indicates Supply still present as compared to the ideal reduced volume on the second bar indicating a potential Supply Vaccuum.
A week later, and I believe the Weakness is being confirmed after multiple failed attempts to close above and a last greater effort to move back above the breakdown bar, we've seen no reward and price has again closed at its low below both lines, although the fact attempts are still being made adds to the case for continued Demand being present absorbing excess Supply at these levels. A further push lower in Spring like style of the low of this tight Range may be what's required before a successful push higher?
Another great opportunity to ask the question, "what's not happening here?" Why didn't price respond higher immediately upon completion of the Shakeout?
Cheers