ai16Z has recovered from its recent downturn after the project announced new partnerships and exchange listings.

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 at the time of writing. The price jump was accompanied by increased trading activity, with its daily trading volume rising 28.8% to nearly $500 million.

The gains followed increased demand for the token in the futures market. According to CoinGlass data, the open interest in the AI16Z futures market was up 33% over the past day at over $213 million.

Investor interest in AI16Z spiked following multiple exchange listings in recent days. On Jan. 22, Kraken Pro added the altcoin to its perpetual futures market, providing traders access to leveraged positions. Just days earlier, on Jan. 20, decentralized trading platform dYdX also listed 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 Jan. 21 to leverage its scalable compute marketplace and verifiable inference services, along with its agent creation toolkit to improve the capabilities of AI agents deployed on its AI operating system, ElizaOS.

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

Such developments are typically 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 worth of AI16Z tokens over the past 24 hours, according to Nansen data.

Analysts expect a continuation of the rally

Pseudo-anonymous trader CryptoBull 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 pointed to $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. Martinez projects a potential rally toward $2.60, a 113% increase from the current price, provided AI16Z continues to trade within the ascending channel in the coming weeks.

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 means 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.