One of the leading assets of the cryptocurrency market Cardano (ADA) continues its remarkable movements recently. According to CoinGecko data, ADA, which is traded around $ 0.48 with a decrease of approximately 2% in the last 24 hours, continues to be closely monitored by the cryptocurrency community.
According to on-chain data, market sentiment for Cardano is bearish and volatility remains high, with the “Fear and Greed Index” at 64.
During this volatile period, Artificial Intelligence tools from prominent crypto asset price analytics platform Coincodex predict that ADA will reach $0.54, slightly above the $0.5 resistance level, by February 29, 2024. This represents an increase of approximately 8% from the current price. All eyes are on whether this prediction will come true.
Cardano Was Highly Volatile in 2023
2023 has been a bumpy year for Cardano. ADA, which was traded below $0.5 for a long period, dropped to its annual low of $0.24 in October, worrying investors. However, this decline was short-lived and ADA made a surprising recovery, reaching a yearly high of $0.66 at the end of the year.
Early 2024 looks promising for Cardano. Despite Bitcoin’s (BTC) mixed performance, ADA remains stable, maintaining levels between $0.6 and $0.45. This shows that ADA has the potential to perform better in 2024.
When it comes to future predictions, AI-based platforms such as ChatGPT and Google Bard have different views. While ChatGPT predicts that ADA could reach around $5 by the end of the year, Bard takes a more conservative approach, estimating a price range between $1.5 and $0.5.
cryptocurrency In the business world, predictions and expectations are always a matter of great curiosity. Cardano’s (ADA) journey will continue to be closely watched by crypto enthusiasts and investors. However, only time will tell whether a date as close as February 29 will have an impact that can change the course.
