AI sets Cardano price for Valentine’s Day 2023

The latest Cardano (ADA) network upgrade will go live on the mainnet on February 14, Valentine’s Day; The aptly named Valentine upgrade aims to facilitate secure cross-chain dApp development on the Plutus platform while furthering the network goals of blockchain interoperability.

The Valentine, also known as the SECP upgrade, is scheduled to be available at pre-production environment On the 11th of February. Given the news of the recent update, some investors are hoping that this will positively affect Cardano’s price.

Thus, Coinphony analyzed the possible future performance of ADA on Valentine’s Day using artificial intelligence (AI) to see if there could be a rise in the business in the coming days. Especially the machine learning algorithms on the crypto monitoring platform price forecast Cardano’s price was estimated to trade at $0.391 on February 14, 2023, according to data retrieved on February 9.

ADA 7-Day Forecast. Source: price forecast

AI combines the latest Technical Analysis (TA) indicators, including Moving Averages (MA), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Bollinger Bands (BB) and more, to arrive at a price estimate for Cardano .

ADA technical analysis

Cardano sentiments across TradingViews Technical analysis indicators on intraday scales are quite bullish, with the summary pointing to “buy” at 10, as summed up by oscillators located in the “neutral” territory at 9, and the moving averages pointing to “buy” at 9.

One-day ADA sentiment gauge. Source: TradingView

Currently, ADA is trading at $0.388, down 2.35% in the last 24 hours, and down another 3.94% in the past seven days.

7-day ADA price chart. Source: Coinphony

Notably, there is a support level at $0.36295, while the next strong resistance level is at $0.41523. Cardano has also recently seen its most whale activity in the past nine months, with transaction speeds not seen since May 2022, which could lead to significant price gains on the original ADA.

warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

The AI-Determined Cardano Price Valentine’s Day 2023 Post appeared first on Coinphony.

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