Which trading platform are you looking at? For Bittrex 1 and 4 are not overlapping in the second scenario - neither for XVG/USD nor XVG/USDT.
Unfortunately, this is my primary count right now, but I also would be happy if the correction is finally done.
This is at Hitbtc, It could be just panic sellers and fomo buyers doing this, as Hitbtc also have a trollbox it is easier to get emotional.