ai16Z (AI16Z) Token Recovers from Recent Downturn after the Project Announced New Partnerships and Exchange Listings

ai16z (AI16Z), the native token of agentic AI project ai16z rose 44% to an intraday high of $1.25 on Jan. 22, bringing its market cap to over $1.35 billion

Agentic AI project token ai16Z (AI16Z) saw a 44% gain on Jan. 22, rallying to an intraday high of $1.25. The gains were accompanied by increased trading activity, with daily volume rising 28.8% to nearly $500 million.

The price floor for AI16Z was supported by increased demand in the futures market, where open interest rose 33% over the past day to over $213 million.

Several exchange listings also contributed to the recent rally interest in the token. On Jan. 22, Kraken Pro added AI16Z to its perpetual futures market, giving traders access to leveraged positions. Just days earlier, decentralized trading platform dYdX also listed the token.

Some notable partnerships have also supported the recent rally.

ai16z (AI16Z) partnered with decentralized infrastructure builder Hyperbolic on Jan. 21 to integrate its scalable compute marketplace, verifiable inference services and agent creation toolkit with ai16z. The aim of the partnership is to improve the capabilities of AI agents deployed on ElizaOS.

ElizaOS was also integrated into decentralized trading app Bebop, which will allow AI agents developed on ElizaOS to carry out more efficient trades on the platform.

Such developments are usually well received by the project’s community as they enhance the platform's overall performance.

Growing optimism around the project is evident in the increased interest from Smart Money Investors, who have accumulated approximately $790k in AI16Z tokens over the past 24 hours, according to Nansen data.

Analysts expect a continuation of the rally

An interesting observation was made by trader CryptoBull, who believes the altcoin could rally 75% from its recently tested support zone of around $0.80.

An even higher target was previously projected by analyst Ali Martinez, who noted in a Jan. 16 X post that AI16Z was trading within an ascending parallel channel that has been forming since late December. He also highlighted $0.80 as a key support level.

AI16Z recently bounced back from the $0.80 level on Jan. 20, confirming strong support at this level. Continuing to trade within the ascending channel in the coming weeks, Martinez projects a potential rally toward $2.60, a 113% increase from the current price.

Technical indicators also support the bullish forecasts. On the 1-day AI16Z/USDT chart, AI16Z’s price was positioned above the 50-day Exponential Moving Average, suggesting that bulls continue to remain in power.

According to the Relative Strength Index indicator, the price is yet to reach overbought levels. At press time, RSI was sitting at 49, with levels above 70 considered the overbought zone. This indicates that the altcoin’s rally can extend further if trend strength holds.

However, the Supertrend line floating above the price points to a potential dip for AI16Z before continuing the rally.