RNDR Price Surge Despite Bearish Factors

Over the past 60 days, Render (RNDR) has fluctuated between notable gains and minor losses as various factors have influenced the market.

At the time of writing, RNDR is trading at $1.79, a 3.65% increase over the previous twenty-four hours. The asset’s market capitalization increased to approximately $665 million, while its 24-hour trading volume fell by 9.5% to $38.8 million.

Render’s increase occurred as the market’s favorable momentum declined. The Israel-Palestine conflict is among the most significant bearish factors.

According to data from the market intelligence platform Santiment, RNDR’s social volume increased by approximately 50 percent over the previous day. The increase comes despite the asset’s social activity declining by 45 percent on October 9.

Santiment reports that the number of whale transactions involving at least $100,000 worth of RNDR has decreased by 57% over the past 24 hours, from 21 transactions on October 10 to only nine at the time of writing.

This suggests that smaller investors, as opposed to larger ones, may have sparked the recent uptrend.

Despite the decline in the quantity of whale transactions, Santiment data indicates that the Render token may continue to rise.

The price-daily active addresses (DAA) divergence of Render remains in positive territory. According to Santiment, the present price DAA divergence for RNDR is 82%.

In layman’s terms, this indicates a “purchase signal” because the number of active addresses has risen alongside the price.