Serban’s Crypto Picks: Kusama $KSM update

We recommended this project during its parabolic rally, without an entry suggestion, as it was in price discovery. Now that some early buyers have taken profits and the price is stabilizing, we can, based on TA, add a couple of buy zones which we can hopefully hit.


First buy zone is at $395 – $420, where we’re testing a previous resistance level that should now turn into support. If we go below $390, we should be able to buy more $KSM in the $315 – $350 range, dollar cost averaging our investment. Fundamentally this project is still a must have in any portfolio, so having the chance to buy some after its retrace is a great surprise and we should take advantage of it. We’re currently setting our buy alerts and keeping a close eye on the price action of Kusama as we don’t want to miss the chance to buy some at a good price.
We’re setting take-profit targets around $700 – $750 short term, but should the bull run keep raging on, we’re seeing $KSM go to $1,100 – $1,200 mid/long term.

Serban’s Crypto Picks – High Conviction Projects 

Tuesday • 30 March 2021 • 17:49

Kusama $KSM – super expensive right now, it has gone parabolic for a while, but I just can’t NOT recommend it. It’s a sort of trial network for projects building onto Polkadot (another coin that would be irresponsible of me not to recommend). You just have to own some DOT and/or KSM. Can’t advise on good entries as KSM is in price discovery and DOT is just expensive (6th place in marketcap overall)

Description from Coinmarketcap: Self-described as “Polkadot’s wild cousin,” Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.