ai16Z, the native token of the agentic AI project, has seen a significant recovery from its recent downturn after announcing new partnerships and exchange listings.

Price Surge and Market Performance

On January 22, the token rose 44% to an intraday high of $1.25, bringing its market capitalization to over $1.35 billion. 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, with open interest in the AI16Z futures market up 33% over the past day at over $213 million.

Exchange Listings and Partnerships

Investor interest in AI16Z spiked following multiple exchange listings in recent days. Kraken Pro added the altcoin to its perpetual futures market, providing traders access to leveraged positions. Decentralized trading platform dYdX also listed the token, further expanding its market reach.

Notable partnerships have also supported the recent rally. ai16z partnered with decentralized infrastructure builder Hyperbolic 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.

Smart Money Investors and Analyst Forecasts

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.

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.

Analyst Ali 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

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, 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.

Tips for AI16Z Investors

For those interested in investing in AI16Z, consider the following:

  • Keep an eye on the token’s performance in the futures market, as increased demand can lead to price surges.
  • Monitor the project’s partnerships and exchange listings, as these can impact investor interest and market performance.
  • Stay up-to-date with analyst forecasts and technical indicators to make informed investment decisions.

    • Stay informed about the latest developments in the world of cryptocurrencies and blockchain technology by following Global Crypto News.

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