The latest upgrade of the Cardano (ADA) network will go live on the mainnet on Valentine’s Day, February 14; Aptly named Valentine, the upgrade aims to facilitate secure cross-chain dApp development on the Plutus platform while advancing the network’s goal of blockchain interoperability.
AI sets Cardano price for Valentine’s Day 2023
Valentine, also known as the SECP upgrade, is scheduled to be available in the pre-production environment on February 11. Due to the recent news of the upgrade, some investors are hoping that this could positively impact Cardano’s price.
So Finbold analyzed ADA’s potential future performance on Valentine’s Day using artificial intelligence (AI) to see if there would be a possible rally in the coming days. Notably, machine learning algorithms on crypto tracking platform PricePredictions predicted that Cardano’s price would trade at $0.391 on February 14, 2023, according to data received on Feb.
ADA 7-day forecast. Source: Price Estimates
AI brings together 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 price prediction.
Currently, ADA is changing hands at $0.388, down 2.35% in the last 24 hours and down 3.94% in the last seven days.
ADA 7-day price chart. Source: Finbold
Specifically, a support level is located at $0.36295, while the next strong resistance level is located at $0.41523. With transaction rates not seen since May 2022, Cardano has also witnessed the largest activity of its whales in the last nine months, which could lead to a significant price spike in its local ADA.
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.