ChatGPT has generated excitement with a bold prediction about Cardano that will be warmly received by ADA holders.
Taking into account the token’s current price situation and the underlying value of the Cardano network, ChatGPT has provided an optimistic forecast for ADA’s trajectory in the year ahead.
The AI model has also highlighted another emerging penny cryptocurrency that it believes could have even more upside potential than Cardano in 2024.
Cardano Price Struggles as Bearish Sentiment Prevails
After reaching a high of $0.46 in April, Cardano has fallen victim to selling pressure, with ADA now hovering around the $0.243 level.
This represents a 47% drop in six months, leaving ADA holders with little reason to remain optimistic about the token’s prospects.
Although ADA tested the 50-day Exponential Moving Average (EMA) as resistance on Monday, price aggressively rejected the area, indicating that bearish sentiment is still predominant.
Unfortunately for ADA bulls, things may be about to get even worse, with price trading just above a strong support zone at $0.240.
ADA hasn’t closed below this zone since January 2021, meaning a break below this long-standing support zone could be catastrophic for Cardano.
Since trading volumes have dipped 10% in the past day, the lack of buying interest could make it easier for ADA to break below $0.240.
Additionally, with no significant developmental catalysts in sight, it could be a tough end to the year for Cardano investors.
ChatGPT Remains Bullish on Cardano’s 2024 Prospects
Despite Cardano’s current price woes, the long-term fundamentals remain strong, according to ChatGPT.
As such, ChatGPT believes that Cardano could stage a powerful recovery in 2024 – although the key will be delivering on promised upgrades to boost decentralization, scalability, and security.
Wider adoption of Cardano-based dApps and services will also be required to enhance real-world utility and demand for ADA.
While the current bearish sentiment has depressed prices, ChatGPT believes there’s enough value in the Cardano blockchain to foster a turnaround.
According to ChatGPT, ADA could trade in a price range of $0.20 to $0.40 in a conservative scenario – which would likely be well-received by holders if the token reached the upper end of this range.
However, upside to between $0.50 and $1.00 is possible if adoption and sentiment trends improve dramatically.
All in all, Cardano still has work ahead, but its future remains bright, according to OpenAI’s chatbot.
Which Other Penny Crypto is ChatGPT Bullish On?
While Cardano may still offer long-term price potential, ChatGPT is more optimistic about other low-cap penny cryptos.
One such project is TG.Casino, which the AI model believes could generate massive returns once its presale phase concludes.
ChatGPT Predicts Massive Upside for TG.Casino’s TGC Token After Presale Raises $1.2m
TG.Casino (TGC) brings a unique crypto gambling experience directly within the Telegram app, setting it apart from most other projects in the growing “GambleFi” space.
With hundreds of slots, table games, live dealers, and sportsbook options, TG.Casino provides a seamless, no KYC, anonymous way to wager crypto.
TGC is the native token of the casino, used to place bets and power rewards/incentives.
These rewards include a high-yield staking protocol, which currently offers returns of 403% per year.
On top of that, TG.Casino users can earn 25% cashback on all losses when betting using the TGC token.
Having already raised $1.2 million in presale funding, there’s clearly hype and investor interest in TG.Casino and its features.
Given this context, ChatGPT believes that TG.Casino could be in for a fruitful year ahead.
With TGC being used for gambling and earning rewards within the Telegram-based casino, ChatGPT believes there will be a natural demand for the token.
Assuming a successful open market launch and positive investor sentiment, ChatGPT thinks TGC could surge to between $1 to $2 per token by the end of 2024.
This highly bullish prediction hints at the underlying potential that TGC has – which will be music to the ears of presale investors who can snag tokens for just $0.125.