It appears to be going down.

Proof:

Sellers @ 3.66 - 4 ref

http://www.tf2outpost.com/trade/11469881 3.66 ref

http://www.tf2outpost.com/trade/11433372 3.66 ref

http://www.tf2outpost.com/trade/11418052 3.66 ref

http://www.tf2outpost.com/trade/11469881 3.66 ref (2 of them)

http://www.tf2outpost.com/trade/11456700 3.77 ref

http://www.tf2outpost.com/trade/11468591 4 ref

http://www.tf2outpost.com/trade/11463769 4 ref (4 of them)

http://www.tf2outpost.com/trade/11466241 4 ref

http://www.tf2outpost.com/trade/11462188 4 ref

http://www.tf2outpost.com/trade/11460361 4 ref

http://www.tf2outpost.com/trade/11443942 4 ref

http://www.tf2outpost.com/trade/11468274 4 ref

http://www.tf2outpost.com/trade/11458769 4 ref

http://www.tf2outpost.com/trade/11414023 4 ref

http://www.tf2outpost.com/trade/11418488 4 ref

http://www.tf2outpost.com/trade/11448333 4 ref

http://www.tf2outpost.com/trade/11447864 4 ref

http://www.tf2outpost.com/trade/11419881 4 ref

http://www.tf2outpost.com/trade/11421262 4 ref

http://www.tf2outpost.com/trade/11429680 4 ref

http://www.tf2outpost.com/trade/11426652 4 ref

http://www.tf2outpost.com/trade/11438998 4 ref

http://www.tf2outpost.com/trade/11438849 4 ref (4 of them again)

http://www.tf2outpost.com/trade/11442051 4 ref

http://www.tf2outpost.com/trade/11442108 4 ref

http://www.tf2outpost.com/trade/11458394 4 ref

http://www.tf2outpost.com/trade/11454252 4 ref

http://www.tf2outpost.com/trade/11452994 4 ref

http://www.tf2outpost.com/trade/11456760 4 ref

http://www.tf2outpost.com/trade/11448656 4 ref

http://www.tf2outpost.com/trade/11453070 4 ref

http://www.tf2outpost.com/trade/11452016 4 ref

Unsold @ 4.11-4.66

http://www.tf2outpost.com/trade/11326903 4.33 ref

http://www.tf2outpost.com/trade/11437901 4.33 ref

http://www.tf2outpost.com/trade/11469061 4.33 ref

http://www.tf2outpost.com/trade/11466747 4.33 ref

http://www.tf2outpost.com/trade/11466510 4.33 ref

http://www.tf2outpost.com/trade/11466061 4.33 ref

http://www.tf2outpost.com/trade/11460857 4.33 ref

http://www.tf2outpost.com/trade/11448722 4.33 ref

http://www.tf2outpost.com/trade/11458233 4.33 ref

http://www.tf2outpost.com/trade/11448754 4.33 ref

http://www.tf2outpost.com/trade/11451926 4.33 ref

http://www.tf2outpost.com/trade/11449546 4.33 ref

http://www.tf2outpost.com/trade/11451258 4.66 ref (and it has green paint)

http://backpack.tf/classifieds/search/30032/6/0/2 1 @ 4.33 ref (and its level 99), 5 @ 4.66 ref