Render (RNDR) reaches the $10 mark, buy signal emerges

Render Network Overview

The native token of the Render Network, RNDR, experienced a bullish trend recently, with a notable increase in its price reaching $10.02. The market cap of Render token is currently at $3.87 billion, positioning it as the 27th-largest cryptocurrency in the market.

Price and Volume Analysis

RNDR also witnessed a significant surge in its trading volume, reaching $342 million. Despite the price surge, the on-chain transaction volume in profit has been declining since May 2, indicating a movement of holdings at a loss.

Technical Indicators and Market Sentiment

The RNDR Relative Strength Index (RSI) saw a minor increase from 51 to 58, suggesting slightly overheated conditions. However, the bullish sentiment in the market was evident as the daily active addresses divergence surged to 625%, signaling a strong “buy signal” for the Render token.

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