As shown in the graph we are approaching a near 2-year downtrend and starting to break that key resistance point at 10c. It will be interesting over the next couple of months if we stay above or below 10c. With a long term downtrend in place and not enough sales in the pipeline to stave off a CR by end of year I believe this could be the catalyst to see 10c form a strong resistance until proven consistent sales are achieved.
The longer term question is if we move into the 5-10c trading range when the next capital raise occurs then dilution will be massive. Eden needs to stop its high cashburn of $3m/quarter or start generating sales.
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