Not true at all.

The 'dumpers' have an ever increasing amount of steem from power downs. The reason they aren't selling more right now is because they've figured out that they're trashing the market so have stepped back. A spike up might be on the cards... but to call an uptrend is ridiculous. It's very clear that the sellers have taken a breather and are waiting for a spike to unload.

The price will most likely drop until more fundamental influences take hold... such as the liquid steem increasing to 10% ish.