The native token of the Render Network, RNDR, has surged to a significant milestone, breaching the $10 mark amidst a flurry of bullish momentum that has characterized its trajectory over the past week.

RNDR has seen a remarkable uptick of 9% in the last 24 hours alone, currently trading at $10.02, with a brief intraday peak of $10.14 recorded around 06:00 UTC. Bolstered by this surge, the market cap of the Render token now stands at a formidable $3.87 billion, securing its position as the 27th-largest cryptocurrency by market capitalization.

It's worth noting that RNDR had previously reached an all-time high of $13.60, accompanied by a market cap exceeding $5 billion on March 17, underscoring its potential for substantial growth.

The recent surge in RNDR's price action has been paralleled by a noteworthy surge in daily trading volume, which surged by 13% to reach $342 million. Concurrently, data from Santiment reveals a commendable uptick in RNDR daily active addresses, rising from 1,414 to 1,601 unique wallets over the past day.

However, amidst this bullish fervor, an intriguing trend emerges from the on-chain transaction volume data. Despite the price surge, the volume of RNDR's daily on-chain transactions in profit has seen a consistent decline since May 2, plummeting from 12.2 million to 2.92 million transactions per day. This suggests that the current surge in transaction volume may be driven by holdings moving at a loss, a dynamic that warrants close observation.

Examining further indicators, the RNDR Relative Strength Index (RSI) has seen a minor uptick from 51 to 58 over the past 24 hours, according to insights from the market intelligence platform. While this indicates that Render is experiencing slight overheating at its current price point, it also suggests that the token is still operating within favorable conditions.

An RSI below 50 could potentially signify reduced price volatility for Render, indicating a period of relative stability.

Moreover, as marketwide bullish sentiment continues to gain momentum, the RNDR daily active addresses divergence has surged to an impressive 625%, according to Santiment. This divergence underscores a compelling "buy signal" for the Render token, indicating that the price surge is being driven by small investors accumulating the asset, rather than dominant market whales.

In conclusion, Render's ascent to the $10 milestone is accompanied by a confluence of bullish indicators, signaling promising prospects for the token amidst a landscape of growing investor interest and market confidence.