Render [RENDER] has entered October at a key technical inflection point, pushing back toward the $2 level after jumping over 35% in September. This price point represents a critical resistance barrier that the altcoin has previously failed to break three times since the October crash.
The broader artificial intelligence token sector experienced significant growth in September, with a combined market cap rally exceeding 47%. Capital inflows of more than $12 billion pushed the sector's market cap back toward mid-Q4 levels above $35 billion. Overall, the AI-coin market cap climbed 61% during the third quarter, marking its strongest quarterly rally and providing momentum for RENDER.
This sector-wide strength has translated into on-chain activity for the Render Network. RENDER grew more than 61% in the current quarter, with over half of that volume concentrated in the final month. On-chain trading volume crossed $1.85 billion, surpassing figures from previous months and reaching the highest level of the quarter.
Market participants are closely monitoring whether the current test of the $2 resistance will result in a breakout or another rejection. A sustained move above this barrier, supported by increased trading volume and broader optimism in the AI narrative, remains the primary focal point for the altcoin's near-term prospects.
