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AI sets Cardano price for Valentine’s Day 2023

AI sets Cardano price for Valentine's Day 2023

The Cardano (ADA) network’s latest upgrade is set to go live on the mainnet on February 14, Valentine’s Day; fittingly called the Valentine, the upgrade aims to facilitate secure cross-chain dApp development on the Plutus platform while advancing the network’s objective of blockchain interoperability.

Valentine, also known as the SECP upgrade, is planned to be available in the pre-production environment on February 11. Due to the news of the latest upgrade, some investors are hoping it could affect Cardano’s price positively.

Thus Finbold has analyzed the future potential performance of ADA on Valentine’s Day using artificial intelligence (AI) to see if a rally could be on the cards in the upcoming days. Notably, the machine learning algorithms at the crypto monitoring platform PricePredictions have projected the price of Cardano will trade at $0.391 on February 14, 2023, according to the data retrieved on February 9.

ADA 7-day forecast. Source: PricePredictions

The AI aggregates the latest technical analysis (TA) indicators, including moving averages (MA), the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more, to come to the price estimate for Cardano.

ADA technical analysis

Cardano sentiment via TradingView’s technical analysis indicators on 1-day gauges, is rather bullish, with the summary pointing at a ‘buy’ at 10, as summarized from oscillators being in the ‘neutral’ zone at 9, and moving averages suggesting ‘buy’ at 9.

ADA 1-day sentiment gauges. Source: TradingView

Currently, ADA is changing hands at $0.388, down 2.35% in the last 24 hours and down a further 3.94% across the previous seven days.

ADA 7-day price chart. Source: Finbold

Notably, a support level exists at $0.36295, while the next strong resistance level is located at $0.41523. Cardano has also lately witnessed the biggest activity of its whales in the previous nine months, with transaction rates not seen since May 2022, which might lead to a significant price gain of its native ADA.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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