ai16Z surges over 40% on new partnerships and exchanges listings

ai16Z has bounced back from the recent recession after the project announced new partnerships and stock market listings.

ai16Z, the native token of the AI ​​project ai16z, rose 44% to an intraday high of $1.25 on January 22, bringing its market cap to over $1.35 billion at the time of writing. The price increase was accompanied by increased trading activity, with daily trading volume increasing 28.8% to almost $500 million.

The gains followed increased demand for the token on the futures market. According to CoinGlass factsOpen interest on the AI16Z futures market rose 33% in the past day to more than $213 million.

Investor interest in AI16Z has increased dramatically in recent days after several stock market listings. Kraken Pro was released on January 22 added the altcoin to its perpetual futures market, giving traders access to leveraged positions. A few days earlier, on January 20, the decentralized trading platform dYdX was also active mentioned the token, further expanding its market reach.

Some notable partnerships have also supported the recent rally.

ai16z (AI16Z) partnered with decentralized infrastructure builder Hyperbolic on January 21 to leverage its scalable computing marketplace and verifiable inference services, along with its agent creation toolkit to enhance the capabilities of AI agents deployed on its AI operating system, ElizaOS.

ElizaOS was also integrated into the decentralized trading app Bebopallowing AI agents developed on ElizaOS to perform more efficient transactions.

Such developments are usually well received by the project community, as they improve the overall performance of the platform.

The growing optimism around the project is evident from the increased interest from Smart Money Investors, who have collected approximately $790,000 worth of AI16Z tokens in the past 24 hours, according to Nansen. facts.

Analysts expect a continuation of the rally

Pseudo-anonymous trader CryptoBull believes the altcoin could gain 75% from the recently tested support zone of around $0.80.

An even higher target was previously projected by analyst Ali Martinez, who noted in a January 16 post X that AI16Z was trading within a rising parallel channel that has formed since late December. He also pointed to $0.80 as a key support level.

AI16Z recently recovered from the $0.80 level on January 20, confirming strong support at this level. Martinez expects a potential rally towards $2.60, an increase of 113% from the current price, provided AI16Z continues to trade within the rising channel in the coming weeks.

Technical indicators also support the bullish forecasts. On the 1-day AI16Z/USDT chart, the price of AI16Z was above the 50-day exponential moving average, indicating that bulls remain in power.

According to the Relative Strength Index indicator, the price has not yet reached the overbought level. At the time of writing, the RSI stood at 49, with levels above 70 considered the overbought zone. This means that the altcoin’s rally could continue if the trend strength continues.

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