If the stock price were being propped up, it seems there would be a lot more volume due to the vast interest in exiting the holdings. However, it seems to me that there is a lack of sellers willing to settle for $1.50/share.
So, a lack of volume at $1.50 means more people are willing to sell at $1.30 or $1? Don't think so.
However, the lack of volume could let manipulators take the price lower - but the volume won't be there except for anyone with a large position that reds to sell for an unknown reason. After that, volume would be back to current levels.