No, Michelle Obama could not run for president in the future. Michelle Obama played the role of first lady just as Laura Bush and Nancy Reagan did. These women were not connected to the political side of being the wife of the president in the same way that Hilary Clinton was.
Michelle Obama has the support and the intelligence to run for political office, including president. She may or may not have aspirations to run for president, but right now, if she were to run, she would have plenty of supporters. She has an understanding of what it would take and could run a successful campaign.
Michelle Obama is not likely to run for president in the future. Unlike Hillary, Michelle has not shown any major political aspirations. Furthermore, the country feels more polarized over the Obama Administration then it did over the Clinton Administration. In other words, more Americans feel nostalgic about the Clinton years, and are likely to support Hillary; more so than they would be willing to support Michelle for president.
The American voters are moving away from establishment politics and especially political dynasties, so I don't think Michelle Obama would be well advised to try to run for President in the future. She was a decent First Lady, but she didn't do anything spectacular or involve herself in Presidential politics the way Hillary Clinton did.