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$SKY Parabolic Breakout: Smart Money Liquidity Sweep Before $0.06434 Re-Test
📊 Market Bias: Strongly Bullish (Impulsive Structural Expansion)
Sky (
$SKY /USDT, formerly MakerDAO) has staged a massive bullish breakout on the 1-Hour timeframe, rising from a structural liquidity trough at $0.05760 to execute a swift buy-side liquidity sweep up to $0.06434. Following a brief rebalancing dip, price action is expanding towards its local high at $0.06332, holding comfortably above the 1H SuperTrend dynamic support floor ($0.06043). Market sentiment is underpinned by fundamental catalysts, including Standard Chartered initiating coverage with a $0.325 long-term price target alongside protocol buyback momentum and USDS stablecoin expansion.
🎯 Trade Setup: LONG ON RETEST
Primary Plan: Enter a LONG position as price executes a controlled pullback into the 1H Fair Value Gap (FVG) and discount demand area before starting its next expansion leg.
Entry Zone: $0.06080 – $0.06200 (Discount Demand / 1H FVG Retest Zone)
Stop Loss: $0.05920 (Placed safely below the 1H SuperTrend dynamic support floor at $0.06043)
Take Profit Targets:
TP1: $0.06434 (Local Swing High / Buy-Side Liquidity Peak)
TP2: $0.06850 (Key Overhead Resistance Zone)
TP3: $0.07400 (High-Timeframe Macro Expansion Target)
Risk-to-Reward Ratio: ~1:2.8 (Calculated from optimal entry near $0.06140)
Trade Invalidation: Hourly candle closing below $0.05920.
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