It was a reversal but because buy orders trumped sell orders by 5:1 it didn't continue. This reversal failed 5 hours after my post, as investors removed their buy orders.

Right - which would make this not a reversal. When you look at the charts, you can clearly see that this happens regularly on the way down. None of these prior bumps in price were a reversal of the downtrend. A reversal doesn't occur until the downtrend reverses by crossing certain chart patterns and prices - making higher highs and lows, or lower highs and lows, depending on the previous trend. There would be momentum building to the upside in the case of Steem.

As I stated in previous posts and comments over the past week, we really don't have any reliable data to identify resistance and support, since Steem has only been trading for a short time and we had one large price spike followed by a sustained sell-off. There are a few areas where we might be able to say there is resistance, based on the small bumps on the way down, but even those wouldn't be reliable enough unless we can confirm them on the way back up during an actual reversal.

And yes, the fundamentals had changed and was the reason for a suspected reversal.

Price trend and supply fundamentals have not changed. We had a temporary spike in the price - from $0.13 to $0.17, then back down to $0.13. That was it. It was the smallest blip that we've had during the current sell-off in both price and volume. If Steem can hold its current price of just over $0.13 for a few days, or even begin rising again on higher volume, we'll have more data to look at and determine if a reversal is taking place. As of right now, no reversal has occurred. We don't want to try to catch falling knives, especially with a new and unproven system/platform and a newly traded cryptocurrency.

I hope the Steem price does reverse. But it hasn't happened yet. It didn't happen yesterday. Maybe we can watch it happen tomorrow and into next week. A few hours of buying doesn't reverse a downtrend - unless the downtrend actually stops and reverses direction. Stopping briefly and resuming doesn't qualify as such.

We also received some good news yesterday about UI features and Chainbase, but as of right now, they're still being tested. When they're fully tested and implemented, then we'll see what happens with their functionality and see if there's any impact on confidence and "investing." It sounds promising, but that's all it is right now.