most cases, people selling small amounts cheaper than they should in order to manipulate the market, plus a little bit of day traders who scare easy.  

That's the way all cryptos work, even Bitcoin moves 30% up and down sometimes 9 years after.  You should remember Bitcoin having 80-90% moves down in the earlier days.

eBitcoin is a much more mature coin after only a few weeks in it's current state with much less volatility.