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Yes. No. And I don't think you understand the problem yet.
No, it is not possible for the setup you describe to give you the approaching car's speed, unless you know the size of the car or a part of that car.
Yes, it is possible for a program written with OpenCV to give you the cue you are looking for. But you need to have knowledge about the road, and about how people drive.
It will not be simple. THIS paper shows the general idea, though the specifics don't work for your case. You'll have to do a lot of research to understand the problem and make your solution work.
